In re Duncan

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).
Issue: 
ABI Membership is required to access the full summary of In re Duncan. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on December 17,2008, LexisNexis #0309-080