The Supreme Court said it will decide whether homeowners who declare bankruptcy can void a second mortgage if the home's market value has dropped below the amount they owe on the first mortgage.
November 17, 2014 at 11:21 AM
1 minute read
The Supreme Court said Monday it will decide whether homeowners who declare bankruptcy can void a second mortgage if the home’s market value has dropped below the amount they owe on the first mortgage.
The justices will consider two appeals from Bank of America, which asserts that bankrupt homeowners should not be able to “strip off” a second loan even if they are underwater on primary loans.
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