“In evaluating lien avoidance, we often default to the most common scenario: a first mortgage, perhaps a second mortgage, and the debtor’s homestead exemption. The question then becomes, is the total of these obligations more than the value of the property? If so, the judicial liens are avoided. If not, the judicial liens are either partially avoidable or fully secured.But that’s not quite how it works.” What a treat!!!! With no tricks. Judge Gustafson and Law Clerk Omshehe bring subscribers an in-depth look at the sexy topic of stripping.

“I had a profound thought - what in the world is the two-dismissal rule? I guess the 9th Circuit wondered the same thing because it affirmed . . . bankruptcy court’s dismissal of a debtor’s declaratory relief complaint against a bank on the basis that the debtor had previously filed three other cases and then voluntarily dismissed them.”

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