How Much Home Equity Is Too Much?…

Introduction by Gerard Forgét, III, JD, MBA, LLM(TAXATION), Omaha, NE

Homestead exemptions are tantamount to any Chapter 13 filing. Several bankruptcy attorneys have stated that the primary reason for a debtor filing a Chapter 13 bankruptcy is to retain possession of their home. Depending on the state in which they file, the applicable homestead exemption will apply. In some states, the federal exemption may be elected; as an alternative to the state.

BAPCPA introduced additional limitations on debtors exempting their residences utilizing the particular state homestead exemption. These limitations examine pre-petition homestead acquisitions (n.b. “look-back . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

Related Articles

Copy of Hildebrand-2016
February 20, 2022
Bankruptcy Court found violation of automatic stay to be “technical”, thus no damages. Ninth Circuit BAP did not agree. Continuing to pursue state court fraudulent transfer action after transfer or filed for Chapter 7 relief violated the automatic stay; even if the violation of the stay is “technical”, damages, including attorneys’ fees and costs, should be assessed against the violator....
Members
Copy of Hildebrand-2016
October 15, 2023
A little bit for everyone in this case . . .In calculating above-median income debtor’s projected disposable income, Chapter 13 debtor may not deduct the “ownership allowance” for transportation expenses if the secured debt in question is secured by a nonpurchase money security interest in a motor vehicle.
Members
October 20, 2019
By The Honorable William Houston Brown (Retired) Claim allowed after reopening of no-asset case. The Chapter 7 case filed as no-asset was reopened after discovery of assets for distribution, and debtors objected to a claim on basis of statute of limitations. Affirming, the Bankruptcy Appellate Panel held that the time to commence action on the claim had been tolled under...
Members
September 20, 2020
By Henry E. Hildebrand, III, Chapter 13 Standing Trustee for the Middle District of Tennessee (Nashville) A Non-Governmental Private Student Loan Obligation is not always excepted from discharge by § 523(a)(8). (Holmes) McDaniel v. Navient Solutions, LLC, 2020 WL 5104560 (August 31, 2020) Case Summary Bryon and Laura McDaniel filed a Chapter 13 petition in 2009. They acknowledged that, among...
Members
August 30, 2020
By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) PART II – BASICS OF PERFECTION OF SECURITY INTERESTS Introduction Current circumstances, with a pandemic and a recession, portend a wave of bankruptcy filings. In the consumer bankruptcy field, trustees and debtors' counsel often are uncomfortable with the rules in UCC Article 9. In this space, we have previously looked...
Members
April 21, 2019
By Stacey A. O’Stafy, Staff Attorney, Office of the Chapter 13 Trustee Faye D. English (Columbus, OH) An above median Chapter 13 debtor settles a workers’ compensation claim and wants to use the exempt settlement proceeds1 to pay off her 100% dividend plan in month 38 – can she? In this simple scenario, the answer is yes. Pursuant to 11...
Members
April 5, 2020
By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) During the free Academy webinar The CARES Act – Impacts on Chapter 13 on April 2, 2020, the panel – Judge Wm. Houston Brown (Retired), Amanda DeBerry and I – referred to the importance of detailing the reasons for modifications or suspensions to be related to financial hardship stemming...
Members
July 18, 2021
By Lawrence R. Ahern, III, Brown & Ahern (Nashville, TN) Introduction The primary purpose of this two-part paper is to explore recent legislation that makes it easier for some individuals to modify the terms of their residential mortgages, especially if they are farmers or small business owners. The emphasis is on the Small Business Reorganization Act of 2019 (SBRA).1 A...
Members
March 24, 2019
By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) PART IV: What's an Attorney to Do? Considerations for Counsel on all Sides of the Arbitration Question Click here for Part I Click here for Part II
Members
September 27, 2020
By Professor Nancy Rapoport Dear Readers: The Academy staff has raised an important issue: Given the mental health issues associated with the pandemic, what should someone do when he or she sees a colleague lawyer in distress? Before we get to the ethics implications, let’s talk about the mental health issue itself. When people are under great stress, they try...
Members

Looking to Become a Member?

ConsiderChapter13.org offers a forum to advance continuing education of consumer bankruptcy via access to insightful articles, informative webinars, and the latest industry news. Join now to benefit from expert resources and stay informed.

Webinars

These informative sessions are led by industry experts and cover a range of consumer bankruptcy topics.

Member Articles

Written by industry experts, these articles provide in-depth analysis and practical guidance on consumer bankruptcy topics.

Industry News

The Academy is the go-to source for the latest news and analysis in the Chapter 13 bankruptcy industry.

To get started, please let us know which of these best fits your current position: