In re Duncan
Dec
17
2008
Ruling
Debtor could not "strip off" second mortgage that was at least partially secured.
Procedural posture
Bankruptcy debtors asserted that a holder of a second mortgage against the debtors' residence was wholly unsecured because the value of the residence was less than the amount due on a first mortgage. The debtors moved to strip off the holder's second mortgage pursuant to 11 U.S.C.S. § 506(d).
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Court
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