SouthStar Stay Lifted For More Foreclosures

Law360, New York (September 17, 2007, 12:00 AM EDT) -- The judge overseeing mortgage lender SouthStar Funding LLC’s Chapter 7 liquidation has lifted the automatic stay so that US Bank NA and Countrywide Home Loans Inc. can foreclose on a handful of delinquent borrowers’ properties.

Judge Paul Bonapfel of the U.S. Bankruptcy Court for the Northern District of Georgia handed down orders lifting the stay for two properties covered by Countrywide mortgages on Friday and for one covered by US Bank on Wednesday.

Both lenders, which were secured creditors of SouthStar, said owned second notes and...
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