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Troutman Sanders LLP: Residential lenders beware: Eleventh Circuit affirms strip off in Chapter 7 bankruptcies

By John C. Lynch , Jeffery W. Cavender and Matthew R. Brooks The U.S. Court of Appeals for the Eleventh Circuit has ruled that Chapter 7 debtors can strip off, or void, wholly unsecured mortgage liens. The per curiam opinion, issued May 11, 2012, marks a significant departure from the standard Chapter...