“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 . . .

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Travis Sasser

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Travis Sasser practices bankruptcy law in Cary, North Carolina. He is a board certified specialist in Consumer Bankruptcy by the American Board of Certification and the North Carolina Board of Legal Specialization. He serves on the Bankruptcy Committee for the North Carolina Board of Legal Specialization. He is a member of ABI and NACBA. He graduated from the University of...

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