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I cannot believe it, but what was a routine 506 valuation just hit a
road block.
When the Debtors refinanced the "1st mortgage" in 2006, the $60,000
HELOC I wanted to strip off never subordinated to the 1st mortgage. So
the $60K HELOC is in 1st position. Now I know why the judges want us to
research priority.
We chose Chapter 13 just to do this lien strip, and I don't want to get
into priority litigation and force the subordination.
Anyone ever run across this before? Or even if you didn't, do you have
any good ideas about what to do?
Steve
Law Offices of Steven B. Lever
>
> Steven B. Lever
>( Tel. (562) 436-5456 ext. 6470
>( Fax (800) 360-5161
>*
sblever@leverlaw.com
>
www.leverlaw.com
> ****************
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