Legal Opinion
Heritage Federal Credit Union v. Cox (In Re Cox)
United States Bankruptcy Court, C.D. Illinois
Decided December 29, 1993No. 19-70058PublishedCited by 5 opinions
1Opinion of the Court
OPINION
WILLIAM V. ALTENBERGER, Chief Judge.
The basic facts in this matter are not disputed. The Debtors (DEBTORS) were indebted to the KNOX COUNTY SCHOOL EMPLOYEES CREDIT UNION (CREDITOR). They wanted to borrow additional funds secured by their residence, but could not, as such additional borrowing would exceed the CREDITOR’S internal lending limits. The CREDITOR’S then manager suggested that they could avoid the internal lending limits by conveying title to their residence to their daughter, KIMBERLY KAYE COX (KIMBERLY), and having KIMBERLY borrow the funds.
The DEBTORS followed this…
2Cases cited14 opinions
- Nobelman v. American Savings BankSupreme Court of the United States · 1993
- King v. State Of CaliforniaCourt of Appeals for the Ninth Circuit · 1986
- Eugene Roosevelt Powers and Lila Virginia Powers v. Sims and LevinCourt of Appeals for the Fourth Circuit · 1976
- Ronnie E. Brown and Edith M. Brown v. Marquette Savings and Loan AssociationCourt of Appeals for the Seventh Circuit · 1982
- Basham v. Finance America Corp.Court of Appeals for the Seventh Circuit · 1978
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3Cited by5 opinions
- Lynch v. GMAC Mortgage Corp. of Iowa (In Re Lynch)United States Bankruptcy Court, D. New Hampshire · 1994
- Botelho v. Citicorp Mortgage, Inc. (In Re Botelho)United States Bankruptcy Court, D. Massachusetts · 1996
- Wepsic v. Josephson (In Re Wepsic)United States Bankruptcy Court, S.D. California · 1998
- Whitley v. Rhodes Financial Services, Inc. (In Re Whitley)United States Bankruptcy Court, D. Massachusetts · 1995
- Arnold v. Waterfield Mortgage Co.District Court, D. Maryland · 1996