(First published here on August 19, 2019. Used with permission.) By Daniel Cohn, Esq., Legal Department, Wells Fargo Bank, N.A. General Rule: No Primary Residence Mortgage Changes The general rule in bankruptcy is that debtors cannot cram down loans secured only by mortgages on their primary residences. But wait, “what’s a cram down?” you ask. For non-bankruptcy folks, a cram...
Critical Case Comment
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By Henry E. Hildebrand, III, Chapter 13 Trustee for the Middle District of Tennessee
In re Puffer, 478 B.R. 101 (Bankr. Mass., Sept. 27, 2012) (Boroff)
Where a debtor’s lack of good faith in filing a bankruptcy case stems from poor advice given by a debtor’s attorney, an obstacle to compensation to that attorney on account of such services is virtually insurmountable.
Case Summary
The Puffer case presents a long and tortured history. Mr. Puffer had about $15,000 of unsecured debts. His anticipated disposable income amounted to about $100 per . . .
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