BANK OF AMERICA, N. A. v. CAULKETT CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE ELEVENTH CIRCUIT No. 13–1421. Argued March 24, 2015—Decided June 1, 2015*  Read the opinion: US Supreme Court BofA vs Caulkett decided 060115.

Press release issued on behalf of Community Bankers Association of Illinois.

Excerpt: “The United States Supreme Court in Bank of America, N.A. v. Caulkett unanimously ruled that underwater junior liens cannot be stripped-off or removed in a chapter 7 case, securing the rights of financial institutions to recover money if a property retained by the debtor goes up in value in the future…. The Caulkett decision is a big victory for junior lienholders.”

Opinion analysis: Bad news for “underwater” homeowners (Opinion Analysis from Supreme Court of the United States Blog)