The U.S. Supreme Court agreed on Monday to listen to 2 cases brought by Bank of America Corp questioning whether a 2nd home mortgage on an ‘Underwater’ home - one with a mortgage balance surpassing its present value - can be nullified during bankruptcy.

Both cases the justices consented to hear come from Florida, where many home owners have struggled to pay their home loans following the current housing situation.

The residents in the 2 cases, David Caulkett & Edelmiro Toledo-Cardona, both won before the local charms court that oversees Florida.

The 11th U.S. Circuit Court of Appeals ruled that homeowners in Chapter Seven bankruptcy could void - or in bankruptcy terms ‘Strip Off’ - a 2nd home mortgage when the debt owed to the owner of the 1st home mortgage is greater than the property's present value.

That means the  lender loses its capacity to foreclose on the property also if its value increases.

Bank of America, which is the 2nd home loan owner in both cases, said in court papers that the approach taken by the 11th Circuit is different than various other appeals courts around the country. The bank says that potentially thousands of cases pending in lower courts might be affected by just how the Supreme Court regulations.

A decision is due by the end of June.