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The Bifurcation Of Undersecured Residential Mortgages Under Sec. 1322(B)(2) Of The Bankruptcy Code: The Final Resolution, Veryl Victoria Miles
The Bifurcation Of Undersecured Residential Mortgages Under Sec. 1322(B)(2) Of The Bankruptcy Code: The Final Resolution, Veryl Victoria Miles
Scholarly Articles
In August of 1992 the Fifth Circuit Court of Appeals, in its decision in Nobleman v. American Savings Bank (In re Nobleman), interpreted § 1322(b)(2) of the Code as prohibiting the bifurcation of a claim secured only by a lien against a debtor's principal residence. This decision is contrary to the position taken previously by the Courts of Appeals for the Second, Third, Ninth and Tenth Circuits on the same question. On December 7, 1992 the Supreme Court granted a petition for certiorari, filed by the debtor in Nobleman, to resolve the split now existing among the courts of appeals. …