Is Subordination Under 510 a Solution to Problem with Priority of Liens in Chapter 13 506 Motion to Value
Posted: Mon Apr 23, 2012 11:28 am
I'm still trying to get around the fact that the 2nd I was supposed to strip in a Chapter 13 case is in first place because the refinance was done without subordinating the existing HELOC.
I'm now wondering if 11 U.S.C. 510(c) allows me to subordinate the HELOC to the first mortgage without an adversary proceeding. I highly doubt it. I'm half ready to give up on this because it is a lot of work to do in a Chapter 13 that doesn't support this level of litigation.
Any thoughts?
The post was migrated from Yahoo.