Elske v. UP Connection Fed. Credit Union
Jan 01, 2013OUTCOME: Stripping of 2nd Mortgage Lien on Residence
HOLDINGS: [1]-A Chapter 13 debtor was allowed under 11 U.S.C.S. § 506 to avoid a junior lien a credit union held on his residence because the residence was worth less than a first lien a mortgage compa ... ny held on the residence, and because there were no issues of material fact, the court granted the debtor's motion for summary judgment on his claim that he was allowed to avoid the credit union's lien; [2]-Although the debtor was allowed under 11 U.S.C.S. § 1322(b)(2) to treat the credit union's claim as unsecured in his bankruptcy plan, the lien could not be avoided until the debtor completed his bankruptcy plan in its entirety, and no documentation of lien avoidance would be recorded until such time as the debtor successfully completed his plan.Elske v. UP Connection Fed. Credit Union (In re Elske), 2013 Bankr. LEXIS 4906, 2013 WL 6077817 (Bankr. D. Neb. Nov. 19, 2013)
