Law Commons^™

Home Mortgage Strip Down In Chapter 13 Bankruptcy: A Contextual Approach To Sections 1322(B)(2) And (B)(5), Mark S . Scarberry, Scott M. Reddie

Pepperdine Law Review

No abstract provided.

Civil Practice And Procedure, Andrew P. Sherrod

University of Richmond Law Review

This article surveys recent and significant developments in Virginia civil practice and procedure. Specifically, the article discusses selected opinions of the Supreme Court of Virginia from September 2011 through June 2012, addressing new or meaningful civil procedure topics; significant amendments to the Rules of the Supreme Court ofVirginia concerning procedural issues during the same period; and legislation enacted by the Virginia General Assembly during the 2012 session that relates to civil practice.

Interpretation And Construction In Altering Rules, Gregory Klass

Georgetown Law Faculty Publications and Other Works

This essay is a response to Ian Ayres's, "Regulating Opt-Out: An Economic Theory of Altering Rules," 121 Yale L.J. 2032 (2012). Ayres identifies an important question: How does the law decide when parties have opted-out of a contractual default? Unfortunately, his article tells only half of the story about such altering rules. Ayres cares about rules designed to instruct parties on how to get the terms that they want. By focusing on such rules he ignores altering rules designed instead to interpret the nonlegal meaning of the parties' acts or agreement. This limited vision is characteristic of economic approaches to …

A Critique Of Congressional Proposals To Permit Modification Of Home Mortgages In Chapter 13 Bankruptcy, Mark S. Scarberry

Pepperdine Law Review

Proposed amendments to the Bankruptcy Code permitting strip down of under secured home mortgages to the court-determined value of the homes and other modifications of home mortgages in Chapter 13 would substantially alter the risk characteristics of home mortgages, with likely substantial effects on future mortgage interest rates and future mortgage availability. Thus, the future societal cost of such a change in the law likely would be large. This article explains and supports that thesis, primarily on the ground that the proposed changes would leave mortgage holders with all of the future downside risk in the real property market while …

What Every Guarantor Should Know About The One-Action Rule And Deficiency Actions, David R. Hague

Faculty Articles

Personal guarantees are an inherent part of obtaining a business loan. A personal guarantee is an unsecured promise from an individual to make loan payments when the business is not able to do so. In other words, it is simply an added assurance for the lender that the loan will be paid in full. Generally, if the borrower defaults, the lender can file suit against both the borrower and the guarantor for payment. Oftentimes, lenders require another layer of protection, in addition to the personal guarantee: collateral to secure the loan.

Signing a personal guarantee comes with substantial risks, primarily …