Sixth Circuit BAP Rules that "Chapter 20" Debtor May Strip Off Valueless Liens

Submitted by Anonymous (not verified) on Wed, 08/06/2014 - 19:00
Description: 

Lien
stripping is a process that involves eliminating junior liens (such as a second
mortgage) through the bankruptcy process. In a recent appeal to a Sixth Circuit
Bankruptcy Appellate Panel ("BAP"), the BAP overturned a bankruptcy
court's denial of a Chapter 13 debtor's motion to avoid the lien of an inferior
mortgage lien holder. Read More ›
Tags: Chapter 13, Chapter 7