Dear Readers: There are some basic truths. One is that when someone says, “hey, watch this!,” the result is likely to involve blood or stitches. Another is that, when an author describes something with the leadoff word, “interestingly,” it often isn’t. And a third is that one shouldn’t mislead bankruptcy judges. In two wonderfully written cases, bankruptcy judges made this...
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By Henry E. Hildebrand, III, Chapter 13 Trustee for the Middle District of Tennessee (Nashville)
Bank of America, N.A. v. Caulkett, – U.S. – , 135 S. Ct. 1995 (June 1, 2015): A debtor in a Chapter 7 bankruptcy proceeding may not void a junior mortgage lien when the debt owed on the senior mortgage exceeds the value of the collateral. (Justice Thomas)
Case Summary
In two consolidated cases, Caulkett and Toledo-Cardona, the debtors had each filed for Chapter 7 bankruptcy relief. In each of the cases, the debtors owned . . .
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