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is this mortgage deficiency part of 109(e) debt calculation?
Debtor owned a property in Arizona with a 1st and 2nd mortgage that
was foreclosed on.
Arizona has an anti-deficiency statute for purchase money mortgages
like California.
Both the 1st and 2nd mortgage holder issued 1099s for cancellation
of debt on the deficiency amounts and, therefore, I believe they
cannot pursue the debtor for the deficiency (I might be wrong about
that).
Does anyone think that the above deficiency amounts would NOT be
included in the unsecured debt limit calculations for Ch. 13 under
109(e)?
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The post was migrated from Yahoo.