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No mortgage lien strips in Chapter 7 cases

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    #1

    No mortgage lien strips in Chapter 7 cases

    See. . .

    U.S. Reports
    http://www.supremecourt.gov/opinions/14pdf/13-1421_p8k0.pdf
    Supreme Court of the United States, Supreme Court, Supreme Court of US, Supremecourt, United State Supreme Court, US Supreme Court, U.S. Supreme Court, Court, Bound Volumes, United States Reports


    BANK OF AMERICA, N. A. v. CAULKETT

    Decision entered 6/1/15

    I believe a correct result.


    Des.
    Tags: None
    #2
    As a resident and person who has experienced bankruptcy in both Chapter 7 and Chapter 13... and being in the 11th Circuit... I liked the 11th Circuit's end-run around this issue for as long as it lasted.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment

      #3
      If the debtors are behind in the 2nd, the DOJ settlement allows for extinguishment. A lot of BK cases seemed to have gotten these extinguishments. I was one of them. We were prepared to let the house go if the 2nd ever came after us. I guess the chances were slim to none since they were totally underwater. They got a couple thousand dollars from DOJ which I guess they figured was more than they would ever get from me.

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