WebApr 21, 2024 · My clients are often surprised to learn that the Chapter 13 bankruptcy laws may be used to remove a second or third mortgage from their homes. The process is … WebFeb 11, 2024 · If your home's value has dropped below the current mortgage balance, a Chapter 13 bankruptcy can sometimes force the mortgage company to adjust the principal to equal the newly determined value ...
Chapter 13 with a 2nd Mortgage, Property Taxes, or Income Tax Lien
WebEssentially, if your mortgage is upside-down, you may have the option to strip a second mortgage in a Chapter 13 bankruptcy. For example, perhaps you bought a home that was worth $300,000 with the help of a $250,000 mortgage. Perhaps you later got a second mortgage for $50,000. WebYou could get rid of your second mortgage through lien stripping in Chapter 13. After completing the bankruptcy and obtaining a discharge, the discharge will extinguish the second mortgage, and only the first mortgage lien will remain. Learn more about removing a second mortgage in Chapter 13. Debtors Can't Avoid Statutory Liens in Bankruptcy evelyn bauer obituary huron oh
How to Get Rid of a Second Mortgage Strip Second Mortgage …
WebA Chapter 13 bankruptcy filing can help you get out of debt and back on track. Our Miami Lakes bankruptcy attorneys help individuals and couples keep their homes and get out of debt. Call Adams & Associates, P.A. at (305) 615-2905 or use the contact form on our website to schedule your free consultation today with a South Florida bankruptcy ... WebWe can help eliminate second mortgage debt in various ways, including filing for bankruptcy, which can avoid foreclosure and repossession. To learn more and speak to a Los Angeles or Orange County debt attorney, request a free evaluation online or call 562-219-2979. Bankruptcy Archives, Debt Archives, Real Estate Archives. WebDec 4, 2024 · Chapter 13 helps in two major ways with a second or third mortgage that aren’t available under Chapter 7. First, you may have the option to “strip” a junior … first day of spring in southern hemisphere