6th Cir. Bankruptcy Panel Holds Foreclosure Deficiency Judgment May Be Avoided

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6th Cir. Bankruptcy Panel Holds Foreclosure Deficiency Judgment May Be Avoided

6th Cir. Bankruptcy Panel Holds Foreclosure Deficiency Judgment May Be Avoided

Lexology-

The Bankruptcy Appellate Panel of the U.S. Court of Appeals for the Sixth Circuit recently held that a mortgage foreclosure deficiency judgment lien may be avoided under 11 U.S.C. § 522(f)(2), reversing the bankruptcy court’s ruling to the contrary.

A copy of the opinion is available at: Link to Opinion.

The debtor filed a Chapter 13 bankruptcy, listing her residence in Ohio on her schedules with a value of $147,630. She also claimed the residence as exempt homestead in the amount of $132,900, the maximum allowed pursuant to Ohio law.

On her Schedule D, the debtor listed judicial or judgment liens as well as a secured claim held by the county treasurer for unpaid taxes as encumbrances on her homestead. The schedules did not reflect a mortgage on the home, but the debtor’s statement of financial affairs reflected a completed foreclosure action.

[LEXOLOGY]

 

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2 Responses to “6th Cir. Bankruptcy Panel Holds Foreclosure Deficiency Judgment May Be Avoided”

  1. Amy K Smith says:

    I need an answer to a question asap. I and my husband have been battling this 4th complaint for foreclosure of the same house since 2016. The judge is very corrupt and has a history of not sending homeowners (especially African American)notices of hearings, in an effort to foreclose quicker. Ohio has very lax disclosure laws for judges, and by the way some of them act, I think they have investments in Wall Street instruments that makes them disqualified. We are now in Appellate Court, but everything we file, no matter how meritorious, we get the same reply that our motion is not well taken, and sounding just like the judges who ordered the unlawful default judgment. We have outstanding proof of the fraud, so servicer Shellpoint aka MERS, transferred their servicing rights to Carrington Mortgage Servicing. We filed a motion to dismiss the complaint since the servicer changed. Instead of them dismissing the case, they said it wasn’t well taken, and gave us a court date for July 31st. I was under the belief, if a supposed to be mortgage was transferred, then the old servicer was no longer a party to the action, and it therefore should have been dismissed. Can you tell me if I am wrong or right? I look forward to getting an answer from you, thanks.

  2. Amy K Smith says:

    I need an answer to a question asap. I and my husband have been battling this 4th complaint for foreclosure of the same house since 2016. The judge is very corrupt and has a history of not sending homeowners (especially African American)notices of hearings, in an effort to foreclose quicker. Ohio has very lax disclosure laws for judges, and by the way some of them act, I think they have investments in Wall Street instruments that makes them disqualified. We are now in Appellate Court, but everything we file, no matter how meritorious, we get the same reply that our motion is not well taken, and sounding just like the judges who ordered the unlawful default judgment. We have outstanding proof of the fraud, so servicer Shellpoint aka MERS, transferred their servicing rights to Carrington Mortgage Servicing. We filed a motion to dismiss the complaint since the servicer changed. Instead of them dismissing the case, they said it wasn’t well taken, and gave us a court date for July 31st. I was under the belief, if a supposed to be mortgage was transferred, then the old servicer was no longer a party to the action, and it therefore should have been dismissed. Can you tell me if I am wrong or right? I look forward to getting an answer from you, thanks. Also can you explain what a Special Projects Fee is?

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