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

On-Demand CLE - Streaming Audio

Our best recorded option for CLE accreditation. Includes recorded streaming audio of full program plus PDF handouts.

Strafford is an approved provider and can request CLE credit for On-Demand programs in the following states. (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)

AK, AZ, CA, CO, DE, FL, GA, HI, IA, ID, IL, IN*, KY, LA, ME, MN, MO, MT, NC, ND, NH**, NJ, NM, NV, NY*, OH*, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY

*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.

On-Demand CLE Audio $149.00

How does this work?


Recorded Event

Includes full event recording plus handouts.

Strafford is an approved provider and self-study CLE credit is available in the following states. (Note: Some states restrict CLE eligibility based on the age of a program. Refer to our state CLE Map for additional information.)

AK, AZ, CO, FL, GA, HI, IA, ID, IL, KY, ME, MN, MO, MT, ND, NM, OR, PA, TN, TX, UT, VT, WA, WV, WY

To apply for Continuing Education credit for a recorded event, contact Strafford CLE to obtain an Attorney Affirmation Form at 1-800-926-7926 ext. 35 or CLE@straffordpub.com.

Recorded Webinar Download $49.00

How does this work?

Recorded Audio Download (MP3) $49.00

How does this work?

DVD (Slide Presentation with Audio) $49.00 plus $9.45 S&H

How does this work?

CD (Audio with Slide PDFs) $49.00 plus $9.45 S&H

How does this work?

Webinar

Strafford webinars/teleconferences offer several options for participation: online viewing of speaker-controlled PowerPoint presentations with audio via computer speakers or via phone; or audio only via telephone (download speaker handouts prior to the program).  Please note that our webinars do not feature videos of the presenters.

Program Materials

Requires Adobe Reader 8 or later. Download Acrobat FREE.

Program Materials

Requires Adobe Reader 8 or later. Download Acrobat FREE.

or call 1-800-926-7926

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.

or call 1-800-926-7926

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 webinar was very informative on very pertinent matters and had a good flow.

Noam Wiener

Allen & Overy

I was pleased with the webinar’s quality topic and the ease of participation.

Mary Brown

McAFee & Taft

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

Our Guarantee

Strafford webinars are backed by our 100% Unconditional Money-Back Guarantee: if you are not satisfied with any of our products, simply let us know and get a full refund. For more information regarding complaints and refunds, please contact us at 1-800-926-7926 ext 10. Complaints regarding this program can be submitted via the course evaluation found in the “Thank you” e-mail at the end of the course.