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Stripping a Second Mortgage – Orlando Lawyer Paul L Urich

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Stripping Your Second Mortgage through Chapter 13. According to Section 506 of the Bankruptcy Code, any lien can only be deemed a secured claim if the asset on which it is based has a value sufficient to satisfy that lien. If your property has been devalued to a level less than what is owed on your second mortgage,

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Stripping A Second Mortgage In Chapter 7 And 13 In most jurisdictions, lien stripping is not allowed if you choose to use the Chapter 7 bankruptcy filing process. traditionally, you must qualify for Chapter 11 or Chapter 13 in order to strip off any kind of second loan, mortgage or other lien on a property.

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Second Mortgage Lien Stripping in Georgia Chapter 7 Cases – Read the Bankruptcy legal blogs that have been posted by Mr. Howard D. D. Rothbloom on Lawyers.com

When you need experienced, empathetic legal services in bankruptcy and family law, contact the Orlando Law Offices of Paul V. Moyer by calling 407-774-5230.

The real estate attorneys at Lynch Law Offices, P.C., in Lisle, can help you sort out your mortgage problems in a variety of ways. For example, there is a provision in Chapter 13 bankruptcy suits for stripping off your second mortgage. Our qualified DuPage County lawyers can remove the second mortgage and help you plan your repayment schedule.

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