Supreme Court Decides Against Stripping Second Mortgage In Chapter 7
This session of the Supreme Court decide a bankruptcy dispute that was widely watched by bankruptcy attorneys: Caulkett v. Bank of America. In Caulkett v. Bank of America, Justice Clarence Thomas and his Supreme Court colleagues unanimously decided that underwater homeowners cannot use the chapter 7 bankruptcy process to remove second mortgages that are […]
Can A Bankruptcy Filing Stop a Foreclosure Sale in New York?
In the United States, foreclosure laws may vary from state to state. In contrast, bankruptcy is federal law and in general treats foreclosure uniformly. In New York, bankruptcy may be able to help stop a foreclosure sale. Filing for Chapter 7 can potentially delay a foreclosure action for a number of months while a Chapter […]