Justices Curb Bankruptcy Filers’ Ability to Have Second Mortgages Canceled – NYTimes.com

Interesting quote about Monday’s Supreme Court ruling on stripping second mortgages.

There[in state court], a lender holding a first mortgage can get a final judgment of foreclosure that clears the second mortgage off the property.”For borrowers who didn’t come into bankruptcy, 99 out of 100 times they are going to get the same result (in state court) — a second mortgage wiped away,” McEwen said.

Source: Tampa man at center of U.S. Supreme Court bankruptcy ruling | Tampa Bay Times

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