(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...
From the Editor’s Desk – Plan Modification
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By The Honorable William Houston Brown (Retired)
Modification denied to recapture past additional income but plan was modified to require turnover of future tax refunds. The trustee moved to modify a confirmed plan after the debtor’s monthly income increased due to working extra shifts as a registered nurse. The debtor testified that she was no longer getting extra shifts and did not expect that for the foreseeable future. As to the question of whether § 1329(b)’s disposable income test applies to postconfirmation modifications, the court reviewed conflicting authority and found persuasive the analysis in . . .
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