Cite as: 508 U. S. 324 (1993)
Opinion of the Court
lation of 11 U. S. C. § 1322(b)(2). The Bankruptcy Court agreed with respondents and denied confirmation of the plan. The District Court affirmed, In re Nobelman, 129 B. R. 98 (ND Tex. 1991), as did the Court of Appeals, 968 F. 2d 483 (CA5 1992). We granted certiorari to resolve a conflict among the Courts of Appeals.2 506 U. S. 1020 (1992).
II
Under Chapter 13 of the Bankruptcy Code, individual debtors may obtain adjustment of their indebtedness through a flexible repayment plan approved by a bankruptcy court. Section 1322 sets forth the elements of a confirmable Chapter 13 plan. The plan must provide, inter alia, for the submission of a portion of the debtor's future earnings and income to the control of a trustee and for supervised payments to creditors over a period not exceeding five years. See 11 U. S. C. §§ 1322(a)(1) and 1322(c). Section 1322(b)(2), the provision at issue here, allows modification of the rights of both secured and unsecured creditors, subject to special protection for creditors whose claims are secured only by a lien on the debtor's home. It provides that the plan may
"modify the rights of holders of secured claims, other than a claim secured only by a security interest in real property that is the debtor's principal residence, or of holders of unsecured claims, or leave unaffected the rights of holders of any class of claims." 11 U. S. C. § 1322(b)(2) (emphasis added).
The parties agree that the "other than" exception in § 1322(b)(2) proscribes modification of the rights of a homestead mortgagee. Petitioners maintain, however, that their
2 Four Circuits have held that § 1322(b)(2) allows bifurcation of underse-cured homestead mortgages. In re Bellamy, 962 F. 2d 176 (CA2 1992); In re Hart, 923 F. 2d 1410 (CA10 1991); Wilson v. Commonwealth Mortgage Corp., 895 F. 2d 123 (CA3 1990); In re Hougland, 886 F. 2d 1182 (CA9 1989).
327
Page: Index Previous 1 2 3 4 5 6 7 8 9 NextLast modified: October 4, 2007