News Topic: Lien stripping
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Lien Stripping in Bankruptcy
On October 11, 2016, Chief Judge Brendan L. Shannon of the Delaware Bankruptcy Court issued a letter ruling in which he opined on the appropriate valuation of a fist lien. A copy of the Opinion is available here. ... Read full article
Differences in Lien Stripping between Chapter 7 and 13
In a much awaited decision, the United States Supreme Court recently ruled in favor of Bank of America and held that "underwater" mortgages are not avoidable in a chapter 7 liquidation case. This ruling reversed the decision of the 11th Circuit ... Read full article
Supreme Court Extends Dewsnup But Suggests They Really Don't Care for the Decision
The Supreme Court extended the holding of Dewsnup v. Timm , 502 U.S. 410 (1992) to a fully unsecured junior lien in a chapter 7 case. However, the Court suggested in a footnote that they are ready to reconsider the underlying precedent. This ... Read full article
What is "Lien Stripping" and Can I Use it to Reduce my Mortgage Payments
With the decline in Atlanta area housing values, a seldom used bankruptcy technique has taken on new life. The technique is called "lien stripping" and it arises from Bankruptcy Code Section 50 ... Read full article