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1322(b)(2) - Are credit union shares and home insurance refunds part
Is this mortgage secured only by debtor's personal residence? Credit union
holds the 2nd mortgage. The note extends the lien to
1. CU shares and
2. homeowner insurance premium refunds (not only insurance proceeds but
also premium refunds)
Seems like both of these categories are not part of the "personal residence"
I remember reading a case about the lien on CU shares but cannot find it
now. Does anyone have the cite?
I have never heard of a case involving premium refunds but seems like this
money (unlike insurance proceeds) is not directly related to the residence.
What about the fact that in this case there are no premium refunds? Their
are just mentioned in the note and are therefore hypothetical.
Please share your thoughts.
Alik Segal
Alik.Segal@gmail.com
310-362-6157
California Central District
Is this mortgage secured only by debtor's personal residence? Credit union holds the 2nd mortgage. The note extends the lien to1. CU shares and2. homeowner insurance premium refunds (not only insurance proceeds but also premium refunds)
Seems like both of these categories are not part of the "personal residence"I remember reading a case about the lien on CU shares but cannot find it now. Does anyone have the cite?
I have never heard of a case involving premium refunds but seems like this money (unlike insurance proceeds) is not directly related to the residence.What about the fact that in this case there are no premium refunds? Their are just mentioned in the note and are therefore hypothetical.
Please share your thoughts.--Alik Segal
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