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Bankruptcy

Dewsnup v. Timm In 1992, the United States Supreme Court decided a mortgage bankruptcy case entitled, Dewsnup v. Timm, 502 U.S. 410 (1992).  This held that a debtor in a bankruptcy could not use a Chapter 7 liquidation proceeding to “strip down” a mortgage lien to the value of the collateral. In [...]

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Bankruptcy

Underwater Homeowners Experience Setback Owners of homes with underwater second mortgages recently suffered a large setback after the U.S. Supreme Court ruled that they cannot free themselves of their obligation to pay these debts by filing for Chapter 7 bankruptcy protection. The court’s [...]

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