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Home / Top Legal News / Reversing course, 4th Circuit OK’s some mortgage cramdowns (access required)

Reversing course, 4th Circuit OK’s some mortgage cramdowns (access required)

  Overruling 22 years of precedent, the en banc 4th U.S. Court of Appeals has ruled that Chapter 13 debtors may divide some undersecured home mortgage loans into secured and unsecured claims and “cram down” the unsecured portion of such loans. The decision reverses a 1997 opinion, Witt v. United Cos. Lending Corp., which barred the modification of a lender’s ...

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