"Stripping" Residential Mortgages and the Effect of 11 U.S.C. § 1111(b) - Part 2 Eleven Eleven What? • NACTT Academy

“Stripping” Residential Mortgages and the Effect of 11 U.S.C. § 1111(b) – Part 2 Eleven Eleven What?

By Lawrence R. Ahern, III, Brown & Ahern (Nashville, TN)

Wonk Alert

This Part 2 wraps up some suggestions about how the parties to residential mortgages may avoid or minimize problems in the structuring and administration of these loans, with a discussion of subsection 1111(b) of Bankruptcy Code.1 This discussion may seem arcane, as indeed many experienced Chapter 11 practitioners have a hard time enunciating how subsection 1111(b) works. The courts are also beginning to struggle with the application of this powerful tool as it may . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

ABI Commission on Consumer Bankruptcy – Student Loans – Suggested Statutory Changes

April 21, 2019

By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) Section I. Student Loans, Part I Statutory Suggestions When the Commission asked participants to identify the most important issue in consumer bankruptcy, all three committees were told the same thing: the role of bankruptcy in the field of student loans. All three committees looked at the issue and proposed...

Members

A Lasting Impact: My Participation in the Tom Vaughn Memorial Internship Program

Queneshia Fleming

October 29, 2023

I am delighted to be in the inaugural class of the Tom Vaughn Memorial Internship Program for Sylvia Ford Brown, Chapter 13 Standing Trustee for the Western District of Tennessee in Memphis. I truly feel that this internship has been invaluable to the furtherance of my career and the expansion of my knowledge of bankruptcy. I. A Little About Me...

Well, I Thought We Were Surrendering the Vehicle

John Hooge

September 29, 2024

In a Chapter 7 client surrendered her vehicle. Case was filed declaring such and no vehicle ownership expense was claimed. Subsequently, the lender offered a modified loan with a reduced monthly payment that was found acceptable. Accordingly, client now plans to reaffirm. This raises several procedural questions Attorney Hooge answers for us.

Members

Sixth Circuit Selects Douglas L. Lutz as Bankruptcy Judge for the Eastern District of Kentucky

The Academy

April 28, 2024

The Circuit Executive for the Sixth Circuit announces that the U.S. Court of Appeals for the Sixth Circuit has selected Douglas L. Lutz as Bankruptcy Judge for the Eastern District of Kentucky to fill the vacancy created by the retirement of Bankruptcy Judge Tracey N. Wise. He took the oath of office on April 19, 2024.

From the Archives

Debbie Langehennig

December 31, 2023

From the archives is a expansive piece on 3002.1.

Members

Critical Case Comment

July 11, 2021

By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) A prior servicer of a mortgage claim subsequently transferred to another servicer could be held liable if the transferor servicer provided inadequate or incorrect information to the transferee. (Aron) In re Bivens vs. NewRez LLC (In re Bivens), 625 B.R. 843 (Bankr. M.D. N.C., March 25, 2021) Case Summary...

Members

Critical Case Comment – $67k Windfall to Debtors. Fraudulent??

Henry E. Hildebrand, III

April 24, 2022

In re Frank, 638 B.R. 463 (Bankr. D. Colo. 2022) A Chapter 13 trustee’s request to dismiss a Chapter 13 case upon discovery of an undisclosed asset held by the debtor cannot be granted after the debtor completes payments under the plan. (Brown) Case Summary John and Jessica Frank filed a Chapter 13 petition on April 8, 2018. Prior to...

Members

Re-Examining the Means Test Cost of Home Ownership

Cathy Moran

December 29, 2024

From June: Bankruptcy lawyers can better present non-mortgage homeownership expenses to reflect current economic realities on the means test. By advocating for realistic expense allowances, based on a percentage of the home’s purchase price, attorneys can ensure fairer assessments and more successful bankruptcy plans. Additionally, Trustees and Judges should look at Atty Moran’s analysis here – change will take the whole village.

Members

From the Editor – Discharge Injunction

March 14, 2021

By The Honorable William Houston Brown (Retired) Section 524(i) applies only to long-term debts not discharged through plan. Whether § 524(i) applied to short-term secured debts that are paid in full and discharged through a Chapter 13 plan was a matter of first impression, with the Court finding no other court had yet decided precise question. Factors used in Supreme...

Members

Remembrances of a Retired Trustee

October 6, 2019

By Mike Fitzgerald It has been almost one full year since I retired as the Chapter 13 Standing Trustee in Seattle. I am happy to report that my family and I are enjoying ourselves immensely. As retirement grows more comfortable, I find myself looking back with mostly very fond memories at the nineteen years I served as a Trustee, as...

Members