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High court rules 2nd mortgages can’t be voided in bankruptcy

WASHINGTON (AP) – A unanimous Supreme Court ruled Monday that homeowners who declare bankruptcy can’t void a second mortgage even if the home isn’t worth what they owe on the primary mortgage. The justices ruled in two Florida cases that bankrupt homeowners can’t "strip off" a second loan even if they are underwater on the first loan.

Chapter 7 Bankruptcy: discharge of 2nd mortgage There is obviously little concern with the primary lender in the question, but it is not clear that the proposed or pending sale of this house will sufficiently cover that particular loan.

Home · Legal Topics · Bankruptcy · Bankruptcy Basics · bankruptcy rules. bankruptcy is a powerful tool for debtors, but some kinds of debts can't be wiped. Once you file, the court puts in place an order called the automatic stay.. If you can't afford a payment that you secured with collateral-such as a mortgage or car.

Insolvency in South African law refers to a status of diminished legal capacity ( capitis diminutio).. Only a Provincial Division, or a Local Division of the High Court, may. The debtor's aim in surrendering the estate is, as a rule, to escape a financial. The second way in which a debtor's estate may be sequestrated is by.

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WASHINGTON (AP) – A unanimous Supreme Court says homeowners who declare bankruptcy can’t void a second mortgage even if the home isn’t worth what they owe on the first mortgage. The justices.

WASHINGTON (AP) – A unanimous Supreme Court says homeowners who declare bankruptcy can’t void a second mortgage even if the home isn’t worth what they owe on the first mortgage. The justices on Monday ruled in favor of Bank of America in two Florida cases where bankrupt homeowners wanted to "strip.