High court rules 2nd mortgages can’t be voided in bankruptcy

What to Expect at a Chapter 7 Creditors Meeting Felderstein, who has represented state agencies in bankruptcy courts around the country, said a judge is usually assigned to mediate to get most, if not all, parties to a consensus. The bankruptcy.

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High court: Bankrupt homeowners can’t void second mortgage Mike Mika June 1, 2015 0 Comment Banking and financial services washington (AP) – A unanimous Supreme Court ruled Monday that homeowners who declare bankruptcy can’t void a second mortgage even if the home isn’t worth what they owe on the primary mortgage.

Bankruptcy law can seem dense and dry, but Warren saw pain, guilt and hope among those filing into bankruptcy court. The prospect of second chances appealed to. "If you’re not going to fix that.

The Supreme Court dealt with the issue whether a debtor can void a second mortgage that is completely underwater or when the property is worth less than the first mortgage. The high court said that the second mortgage may not be voided if it is not a disallowed secured claim as defined under Section 502 of the Bankruptcy Code.

Consumers Can’t Void Second Mortgage In Bankruptcy, SCOTUS Rules 6.1.15 2:44 PM EDT By Ashlee Kieler @akieler It’s Your Loan – Deal With It scotus supreme court bank of america loans mortgage.

Under some circumstances, a bankruptcy court may not only delay or stop a foreclosure process, but actually declare a mortgage to be void, relieving the debtor of the obligation to continue making any mortgage payments. Bankruptcy courts can eliminate or reduce the amount you own on second mortgages in some.

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Can I Eliminate My 2nd Mortgage Debt by Filing Bankruptcy? If you’re like most struggling homeowners, you took out your second mortgage with high hopes that it would improve your financial fortunes. After all, second mortgages are designed to provide some much-needed breathing room to folks grappling with rising interest rates on their existing.

High court rules 2nd mortgages can’t be voided in bankruptcy June 2, 2015 WASHINGTON (6/2/15)–Homeowners cannot void a second mortgage using bankruptcy protection, the Supreme Court ruled Monday.

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