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
-
Debtor’s ability to strip junior mortgage liens
- Chapter 13 requirements
- Adversary proceedings
- Chapter 7 bankruptcy options, including In Re McNeal (11th Cir. May 2012)
- Litigation tactics
-
Mortgage lender defenses
- 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.
Recordings
CLE On-Demand - Streaming Audio
Includes recorded streaming audio of full program plus PDF handouts.
On-demand is the only recorded format recognized for CLE credits in DE, IN, KS, LA, MS, NC, OH, OK, SC, TN, VA, WI.
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*Only available for attorneys admitted for more than two years. For OH CLE credits, only programs recorded within the current calendar year are eligible - contact the CLE department for verification.
**NH attendees must self-determine if a program is eligible for credit and self-report their attendance.
CLE On-Demand Audio $297.00
Recorded Event
Includes full event recording plus handouts.
Strafford is an approved provider and self-study CLE credit is available in most states.
AK, AZ, CA, CO, CT, FL, GA, HI, IA, ID, IL, KY, ME, MN, MO, MT, ND, NJ, NM, NY, OR, PA, TN, TX, UT, VT, WA, WV, WY (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)
Strafford will process CLE credit for one person on each recording.
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Recorded Webinar Download $297.00
Recorded Audio Download (MP3) $297.00
Webinar
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CLE Credits
Many states grant CLE credits for on-demand streaming audio programs and recorded events. Our programs are pre-approved in many states. Refer to our state CLE map for state-specific information.
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
I liked the topic and the fact that Strafford kept to the time schedule.
Susan Piperno
Gottlieb Rackman & Reisman
I thought the seminar was well worth my time.
Jeff Ouellet
Hartman Underhill & Brubaker
Presentations were excellent. I especially benefited from the question and answer session, as the speakers addressed actual situations that affect many of us.
Angelica Toro
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