Baltimore, MD
Bankruptcy and debt Lawyer at Baltimore, MD
Practice Areas: Bankruptcy & Debt, Personal Injury ... +2 more
OUTCOME: Mr. Raskin is able to avoid the Susquehanna Lien on his undivided interest in the marital home.
Husband filed a Chapter 7 individually and owned his marital residence with his wife. Husband used the Maryland Homestead exemption and filed a Motion to Avoid Judgment Liens held by Susquehanna Bank ... totaling $1.25 million dollars against both husband and wife. Susquehanna objected.
OUTCOME: The Court found that the "Reverse Mortgage" could be modified under the chapter 13 plan and allowed Mr. Griffing to modify the mortgage and pay it off through the chapter 13 plan.
Debtor's residence was formerly owned by debtor's late mother. Before she died she executed a "Reverse Mortgage". The debtor was not a party to the "Reverse Mortgage" and, before his mother's death, ... had no direct ownership of the property. The mortgage company accelerated the payment due on the mortgage upon the mother's death and sought to foreclose. Mr. Griffin, as his mother's heir, filed a chapter 13 bankruptcy and sought to modify the mortgage by paying off the balance in full through the plan at a reduced interest rate. The mortgage company objected.
OUTCOME: Judge Williams of the U.S. District Court reversed the bankruptcy Judge's ruling. The bankruptcy Judge subsequently approved the Motion to Avoid the Second Mortgage and turn it into unsecured debt.
Ms. Thomas filed a motion to avoid a second mortgage and turn it into unsecured debt because her house was worth less than the total owed on the first mortgage. The bankruptcy Judge denied the motion ... citing an obscure State of MD statute under the Real Property Article, Section 7-102. The bankruptcy Judge denied the motion and would not take into account the costs of collection, interest and late fees in calculating the total balance owed to the first mortgage company. Ms. Thomas filed an appeal to the U.S. District Court.
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