“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.
From the Editor – Claims
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By The Honorable William Houston Brown (Retired)
Chapter 13 debtor was not “prevailing party” under California law for purposes of recovering attorney fees for claim objection. The Chapter 13 debtor filed an objection to the proof of claim for mortgagee, disputing $425 attorney fees in the claim. The claimant amended its proof of claim, deleting the attorney fees, and the debtor than sought her own attorney fees and costs of $5,265, under a California statute, but the bankruptcy court correctly concluded that the debtor was not a “prevailing party” under that statute. The claimant voluntarily . . .
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