Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors...
"Lien stripping" in Chapter 13 bankruptcy allows certain homeowners to get rid ...
You can only strip your second mortgage or other junior liens if the amount of ... If
you complete the plan, anything left on the mortgage is discharged (wiped out).
Filing for Chapter 13 bankruptcy in order to get rid of a second mortgage or ... to
complete your Chapter 13 repayment plan and obtain a discharge before the ...
Lien stripping in Chapter 13 bankruptcy refers to the process of eliminating ... So
if you had a second mortgage with a balance of $100,000, you can get rid of it ...
After discharge, your lender for the stripped lien will be required to remove its ...
Aug 18, 2015 ... Dear Bankruptcy Adviser, I filed a Chapter 7 bankruptcy that was discharged in
2009. I was paying my second mortgage loan to the bank for 4 ...
One plus to filing for Chapter 13 bankruptcy is that you may be able to get rid of
second or ... How to Strip a Second Mortgage or HELOC in Chapter 13 ... are
done with the three or five year plan, the remainder of the debt will be discharged
Lastly, while you can strip the second mortgage in chapter 13, you must complete
your bankruptcy plan successfully and receive a discharge of debts.
Chapter 13 bankruptcy allows you to catch up on missed mortgage or car loan ...
When you complete your plan, you will receive a Chapter 13 discharge that ... a
wholly unsecured junior lien (such as a second mortgage) from your house ...
Oct 21, 2015 ... Usually in bankruptcy a lender's rights to its collateral are respected and
protected. ... If you file a Chapter 13 to strip your second or third mortgage you ...
income taxes that are not old enough to be discharged (written off), any ...
If you want to eliminate your discharged second mortgage's lien in Chapter 13
bankruptcy, you must first complete your three-to-five-year repayment plan.