From the Editor – Lien Modification

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By The Honorable William Houston Brown (Retired)

Junior mortgage lienholder not affected by modifications of senior mortgage. Under Pennsylvania law, the prepetition modification of terms of the senior mortgage had recapitalized interest and costs already owed but had not created new liabilities. As a result, the junior mortgage holder was not materially prejudiced. The Chapter 13 debtors could avoid the wholly unsecured junior mortgage lien, with that creditor’s claim allowed as unsecured. In re Fraction, __________B.R._________, 2020 WL 6821059 (Bankr. E.D. Pa. Nov. 19, 2020).

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