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Expert Analysis

REBUTTAL: The Power Of The Penny (Of Equity)

Law360, New York (June 12, 2014, 11:29 AM EDT) -- The primary flaw in The Harsh Result of High Court Refusal to Hear BofA Case, published on June 5, 2014, in Law360, is that there is no mention of the U.S. Supreme Court's decision in Nobelman v. American Savings Bank,[1] which post-dated Dewsnup v. Timm.[2] In Nobelman, the Supreme Court held that the rights of an undersecured homestead lender are protected from modification in Chapter 13 bankruptcy proceedings. In so holding, the court introduced the concept of the power of even a penny in equity in the home....

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