(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...
Creditors’ Rights and Debtors’ Protections at the Intersection of Consumer Bankruptcy and UCC Article 9
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By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN)
Introduction to this Series
Current pandemic circumstances and economic conditions portend an onslaught of bankruptcy filings. In the consumer bankruptcy field, trustees and debtors' counsel often are uncomfortable with the rules in UCC Article 9. Here, we look at a couple of topics that touch on the interplay of Article 9 and Bankruptcy,1 but this begins a series of articles designed to review Article 9's important rules . . .
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