Wallach v. Brosnahan (In Re Broshanan)

CARL L. BUCKI, Bankruptcy Judge.

After passage of the Depository Institutions Deregulated and Monetary Control Act of 1980, Pub.L. No. 96-221, 94 Stat. 132, and the Garn-St. Germain Depository Institutions Act of 1982, Pub.L. 97-320, 96 Stat. 1469, the financial services industry began dramatically to expand its use of alternative forms of mortgage financing. See Bernard M. Rifkin, Revolving Credit: Credit Line Mortgage, in Title Insurance 1988, at 301, 303 (PLI Real Estate Law & Practice Course, Handbook Series No. N4-4486, 1988). Among these borrowing facilities was the credit line mortgage.…