Lopez v. Bank of America (In re Lopez)
- Summarized by Walter Kelley , Kelley, Lovett, Blakey & Sanders, P.C.
- 11 years 6 months ago
- Citation:
- Lopez v. Bank of America (In re Lopez), Case No. 14-10518 (11th Cir. Sept.3, 2014)(unpublished)(per curiam)
- Tag(s):
-
- Ruling:
- The debtor may "strip off" or void a junior lien, where the amount of debt securing the senior lien exceeds the value of the house.
- Procedural context:
- Appeal to the 11th Circuit from the bankruptcy judge's order in a chapter 7 proceeding that allowed a "strip off" of a wholly unsecured second-priority lien on debtor's home and the order by U.S. District Court for the Middle District of Florida affirming the bankruptcy court's decision.
- Facts:
- Debtor had two mortgages on his home. The first had an outstanding balance that exceeded the value of the house. The second mortgage is wholly unsecured; debtor sought to extinguish the junior lien under 11 U.S.C. 506(d) based on prior published decisions. Court approved "strip off" of second lien.
- Judge(s):
- Wilson, Rosenbaum, Fay
ABI Membership is required to access the full summary. Please Sign In using your ABI Member credentials. Not a Member yet? Join ABI now - it is absolutely worth it!
