Second Mortgage Lien Strip With Chapter 13 Bankruptcy

By admin • November 18th, 2010

Chapter 13 Bankruptcy contains a tool the form of a second mortgage lien strip.  If you qualify, the bankruptcy laws allow you to keep your home with just the first mortgage.  The second mortgage payment can be removed.  We have seen seconds of over $250,000 stripped away inside a Chapter 13.  The simple criteria are that (A) your house is upside down taking into account just the first mortgage; and (B) you have steady income.

To see if your home is upside down in California, or to obtain an appraisal to assist your Chapter 13 case contact Valu-Rite Appraisers


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