Stripping a second mortgage
Are you underwater on your home? (i.e. you owe more than it’s worth) Is your second mortgage causing you financial chaos? Would eliminating it provide you with a “fresh start” toward new financial freedom? In certain Chapter 13 bankruptcy cases it is a possibility! Yes, you can actually strip, or get rid of, your second mortgage in some bankruptcies. This is a powerful tool in Chapter 13 and can provide great relief to a struggling family. The ultimate success of your lien-strip motion will depend on the valuation of the house itself. If, on your first mortgage, you owe more than the home is worth you will likely succeed. Call for a free consultation and see if I can help ease your financial burdens by getting rid of your second mortgage altogether!