U.S. Supreme Court to Address Strip Off of Home Mortgage in Chapter 7

By | New Jersey Law Blog | November 24, 2014
U.S. Supreme Court to Address Strip Off of Home Mortgage in Chapter 7

The U.S. Supreme Court has agreed to hear two appeals by Bank of America concerning an important and frequently recurring question of bankruptcy law: whether a chapter 7 debtor can “strip off”-that is, void-a junior mortgage lien on a debtor’s house when the debt owed to a senior lienholder exceeds the current value of the house. This would resolve a split of authority in the circuit courts.

One Time to Always Avoid Filing Bankruptcy

By | Texas Bankruptcy Blog | November 24, 2014
One Time to Always Avoid Filing Bankruptcy

When your finances are ill, bankruptcy is powerful medicine. The federal bankruptcy law discharges many debts and can give you time to pay others. In most cases a bankruptcy debtor will not lose any property; in other cases a debtor may choose to “walk away” from a house or car debt and not owe anything.

Taking a Look at Operation Choke Point

By | Florida Banking Law Blog | November 21, 2014