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Questions Answered by David Michael Benson Esq

3 Answers | Asked in Bankruptcy for Ohio on

Q: In Northern District of Ohio Bankruptcy Court, is requesting cramdown via plan sufficient or a motion has to be filed?

David Michael Benson Esq answered on Jan 12, 2011

Since the mortgage cramdown legislation died last year, I am assuming you are referring to car loan cramdowns. Mortgage lien stripping is still permitted (severing the lien on a junior mortgage when the senior mortgage is greater than the value of the property), but cramming down loans to the value... Read more »

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