Stripping Second Mortgages Liens In Bankruptcy
If your home’s value is less than the value of your first mortgage, you may remove or “strip” the value of a second or additional mortgage in bankruptcy. While this tactic typically only applied to Chapter 13 bankruptcies in the past, it is now possible to do it in a Chapter 7 filing, depending on circumstances. It is, however, critical to ensure that you undertake filing correctly, with an eye on your unique situation.
At Blanton Law, P.A., we bring more than 30 years of combined bankruptcy experience to help guide you through the process. Working closely with you to understand your unique situation, we analyze what mortgages can be stripped. From there, we can work to save your house and get you a clean financial slate.
To discuss stripping a second mortgage or any other Chapter 7 or Chapter 13 bankruptcy issue, call 941-584-4263 or email the firm for a free initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.