unsecured | FORECLOSURE FRAUD | by DinSFLA

Tag Archive | "unsecured"

In Re: CROMWELL: Mass. BK Court “Consumer Credit Cost Disclosure Act, Notice of Right to Cancel, Truth in Lending Act”

In Re: CROMWELL: Mass. BK Court “Consumer Credit Cost Disclosure Act, Notice of Right to Cancel, Truth in Lending Act”


UNITED STATES BANKRUPTCY COURT
DISTRICT OF MASSACHUSETTS
EASTERN DIVISION

IN RE:
DOUGLAS CROMWELL, JR. AND
MARY CROMWELL,
DEBTORS.
___________________________________
DOUGLAS CROMWELL JR. AND
MARY CROMWELL,
PLAINTIFFS,

v.

COUNTRYWIDE HOME LOANS, INC.
AND MORTGAGE ELECTRONIC
REGISTRATION SYSTEMS, INC.,
DEFENDANTS.
__________________________

MEMORANDUM OF DECISION

I. INTRODUCTION
The matters before the Court are the Second Amended Complaint (the “Complaint”) filed
by Douglas Cromwell, Jr., and Mary Cromwell (collectively, the “Debtors”) against
Countrywide Home Loans, Inc. (“Countrywide”) and Mortgage Electronic Registration Systems,
Inc. (“MERS”) (jointly, the “Defendants”) alleging violations of the Massachusetts Consumer
Credit Cost Disclosure Act1 (the “CCCDA”), as well as the Debtors’ Objection to Proof of Claim
filed by Countrywide Home Loans, Inc. (the “Objection to Claim”) and the Objection to
Confirmation of Second Amended Chapter 13 Plan (the “Objection to Confirmation”) filed by
Countrywide. Through their Complaint, the Debtors seek, inter alia, rescission of a refinancing
transaction and a declaration that the mortgage granted by them to MERS, as nominee for
Countrywide, is void and that they have no tender obligation as a condition to effectuate the
rescission.2 In the Objection to Claim, they, in turn, contend that Countrywide’s claim is now
unsecured in light of the Debtors’ purported rescission. The Defendants dispute the Debtors’
allegations in the Complaint and object to the Debtors’ Chapter 13 plan on the basis that they
propose to treat Countrywide’s claim as unsecured. For the reasons set forth below, I will enter
judgment in favor of the Debtors and order them to file a fee application within thirty days,
sustain the Objection to Claim, and overrule the Objection to Confirmation.3

[…]

[ipaper docId=66761685 access_key=key-m12aawfz4o079wei328 height=600 width=600 /]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in STOP FORECLOSURE FRAUDComments (0)

FISETTE v. KELLER | 8th Circuit BAP Okays ‘Chapter 20’ Lien Stripping on Unsecured Homestead 2nd Mortgage

FISETTE v. KELLER | 8th Circuit BAP Okays ‘Chapter 20’ Lien Stripping on Unsecured Homestead 2nd Mortgage


Via: Max Gardner’s Bankruptcy Boot Camp-

This is an important ruling for bankruptcy attorneys and their clients in Arkansas, Iowa, Minnesota, Missouri, Nebraska, North Dakota and South Dakota, some of whom have been unable to lien strip as local judges waited for authority from above.

United States Bankruptcy Appellate Panel
FOR THE EIGHTH CIRCUIT

No. 11-6012

In re:
Michael James Fisette,
Debtor.

Michael James Fisette,
Debtor – Appellant,

v.

Jasmine Z. Keller,
Trustee – Appellee.

EXCERPT:

ISSUES

The issue on appeal is whether the bankruptcy court may confirm the debtor’s
plan which provides for the avoidance of two junior liens on the Debtor’s principal
residence. In particular, we consider whether: (1) 11 U.S.C. § 1322(b)(2) prevents a
debtor from modifying the rights of junior lienholders of liens on his principal
residence if the value of the residence is less than the amount owed to the senior
lienholder; and (2) if not, whether such modification is contingent upon the debtor’s
receipt of a Chapter 13 discharge.

[ipaper docId=63547013 access_key=key-1iz7pehmkvq3k9g16sqa height=600 width=600 /]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in STOP FORECLOSURE FRAUDComments (0)


GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives