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Home / News Stories / Reversing course, 4th Circuit OKs some mortgage cramdowns (access required)

Reversing course, 4th Circuit OKs some mortgage cramdowns (access required)

BY CORREY E. STEPHENSON BridgeTower Media Newswires Overruling 22 years of precedent, the en banc 4th U.S. Circuit 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, Hurlburt v. Black (VLW 019-2-150), reverses a 1997 ...