In re Penrod, 611 F.3d 1158 (9th Cir. 2010) An Opportunity for Cali...

The 9th Circuit has ruled that to the extent that an automobile lender rolls the negative equity from a trade-in into a new acquisition loan that part of the loan is not a purchase money security interest.  In re Penrod, 611 F.3d 1158 (9th Cir. 2010).   The ruling in Penrod is in apparent contrast to [...]