UPDATE 1-US top court says 2nd mortgages on 'underwater' h...

UPDATE 1-US top court says 2nd mortgages on 'underwater' homes cannot be ...
Reuters
The 11th U.S. Circuit Court of Appeals had ruled that homeowners in Chapter 7 bankruptcy can void - or in bankruptcy terms "strip off" - a second mortgage when the debt owed to the holder of the first mortgage is more than the property's current value.
High court: Bankrupt homeowners can't void second mortgagePost-Bulletin
Underwater-Lien Case Win for Bank of AmericaCourthouse News Service

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