Saturday, June 6, 2015
SCOTUS: Underwater Second Mortgages Can't Be Canceled by Bankruptcy
Homeowners can no longer void their second mortgage in Chapter 7 bankruptcy. In a win for banks, the Supreme Court ruled in Bank of America, N.A. v, Caulkett, by a unanimous decision, that struggling homeowners cannot cancel their second mortgage in bankruptcy even when the value of their home......
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