Lien Stripping in Consumer Bankruptcy

Bringing or Defending Actions to Avoid Junior Mortgage Liens

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, November 8, 2012
Recorded event now available


This CLE webinar will provide bankruptcy counsel with a review of how junior mortgage liens can be stripped in consumer bankruptcies, discuss defenses available to the lender to preserve the lien, and outline various litigation approaches for both sides.

Description

With many home mortgages underwater, debtors in consumer bankruptcy are aggressively seeking to shed second or third mortgages via “lien stripping.”

In Chapter 13 bankruptcies, a junior mortgage no longer secured by the property’s equity may be stripped. The junior mortgage becomes part of the debtor’s unsecured debt and may be paid off through the Chapter 13 plan. At the end of the plan period, the remaining unsecured debt is discharged.

In a surprise ruling earlier this year, the 11th Circuit allowed debtors to strip off wholly unsecured liens from homes in a Chapter 7 case. Mortgage lenders have several viable defenses to preserve the mortgage lien and tactics to put roadblocks in the path of the debtor seeking to strip the lien.

Listen as our authoritative panel of consumer bankruptcy practitioners provides counsel with knowledge to represent debtors seeking to strip junior liens and to defend mortgage lenders seeking to preserve their liens.

Outline

  1. Debtor’s ability to strip junior mortgage liens
    1. Chapter 13 requirements
    2. Adversary proceedings
    3. Chapter 7 bankruptcy options, including In Re McNeal (11th Cir. May 2012)
    4. Litigation tactics
  2. Mortgage lender defenses
    1. Litigation tactics

Benefits

The panel will review these and other key questions:

  • What circumstances permit the debtor to strip a junior lien in a Chapter 13 bankruptcy?
  • What options are available to debtors in a Chapter 7 bankruptcy?
  • What are the lender’s most viable defenses?
  • When may an adversary proceeding be necessary to strip a junior lien?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Monette W. Cope, Junior Partner
Weltman Weinberg & Reis, Chicago

She practices in the firm’s Bankruptcy, Consumer Bankruptcy and Commercial Bankruptcy Groups. She is also involved in the Integrated Real Estate Default Group. She began her bankruptcy career in Chicago and has extensive experience in bankruptcy-related matters, particularly in Chapter 13 bankruptcies.

Stephen M. Trezza, Principal
Arizona Law Group of Trezza & Associates, Tucson, Ariz.

He concentrates on Chapter 7 and Chapter 13 bankruptcy. He is a member of the Tucson Association of Consumer Bankruptcy Attorneys, National Association of Consumer Bankruptcy Attorneys, American Bankruptcy Institute, and the National Consumer Law Center.

Ordering

Recorded Event

Includes full event recording plus handouts (available after live webinar).

CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX*, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID*, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)

Recorded Webinar Download $297.00
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Recorded Audio Download (MP3) $297.00
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DVD (Slide Presentation with Audio) $297.00 plus $9.45 S&H
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CD (Audio with Slide PDFs) $297.00 plus $9.45 S&H
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On-Demand CLE - Audio Recording

Includes streaming audio of full program plus handouts (available 24 hours after live program).

Strafford is an approved provider and can request CLE credit for On-Demand programs in the following states:

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*Not available for transitional attorneys in NY.

On-Demand CLE Audio $297.00
Available 24 hours after the live event

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Webinar

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Program Materials

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Program Materials

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Customer Reviews

The presentation was detailed and I very much liked the fact that we heard from both a debtor and a creditor's counsel on the subject.

Laura Brandow

Marcus, Errico, Emmer & Brooks

I liked the strategic tips regarding defending against lien stripping in Chapter 20 cases.

Carol A. Glick, Esq.

Certilman Balin Adler & Hyman

The program material was very well organized and thorough.

Laura Buckley

Higgs, Fletcher & Mack

The webinar was informative on the current issues.

Lauren Bernstein

Kaye Scholer

I thought that the program materials were simple to follow and the program was straight forward.

Scott Olson

Seyfarth Shaw

or call 1-800-926-7926

Bankruptcy Law Advisory Board

Mark N. Berman

Partner

Nixon Peabody

Michael E. Foreman

Partner

ForemanLaw

Matthew Gensburg

Shareholder

Greenberg Traurig

Brian E. Greer

Partner

Dechert

Douglas Lipke

Shareholder

Vedder Price

Victor Milione

Partner

Nixon Peabody

Steven B. Smith

Counsel

Dickstein Shapiro

Michael Solow

Partner

Kaye Scholer

Robert A. Weber

Counsel

Skadden Arps Slate Meagher & Flom

or call 1-800-926-7926

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