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...
Oct 29, 2012 ... After bankruptcy, homeowners celebrate Bank of America forgiving second
mortgages. ... Many of my clients filed Chapter 7 bankruptcy, stayed in the house
and ..... deemed it an unsecured lien that was discharged and stripped prior to ....
stopped paying on and has been written off is still lingering out there.
Thomas Hogan, Thomas P. Hogan has been practicing law for more than 25
years. Prior to pass. ... What happens to a (HELOC) lien on a property that has
been written off prior to bankruptcy and then discharged in bankruptcy?
Written by James Hirby | Fact checked by The Law Dictionary staff ... A secured
debt typically has a lien on the asset, in this case a residence. In some way you
must satisfy the first mortgage and any junior mortgages or lien holders before
you ... Chapter 7 bankruptcy terminates your liability on the primary and the
Apr 25, 2011 ... To buy again after bankruptcy you have to wait for 24 months before you .... I now
have a buyer, and was able to get the lien released on the 2nd ... First, your name
either has to be off title, or the mortgage needs to be current before you .....
property to the other person who is on the deed then I will no longer ...
May 27, 2011 ... Once the property drops in value below the level where even the first mortgage ...
We made this change because our experience has been that each ... If I accept
the offer they will write the lien off credit but will they send a ...... money then can't
modify the first, I'm worse off – the bankruptcy will wipe it...
"Lien stripping" in Chapter 13 bankruptcy allows certain homeowners to get rid of
... If your house has gone down in value since you bought it, a Chapter 13
bankruptcy may ... what your house is worth before you can get rid of your second
mortgage. If you have three mortgages, then you can strip both your second and
Jan 16, 2014 ... Because you got a discharge in a Chapter 7 bankruptcy case three years ago,
you ... To make up for the shortage I have not been paying my property taxes, and
I .... from an experienced bankruptcy attorney before you decide what to do. ...
Tags: bankruptcy, Chapter 13, HELOC, junior, lien, second, strip off.
Jul 13, 2011 ... Charles Phelan, founder of SecondMortgageAdvice.com has been advising ...
want to talk with a bankruptcy attorney to find out whether bankruptcy would be ...
would be that the lien would be taken off and documented at the courthouse. ...
Did you get a written settlement agreement before you paid them?
Sep 28, 2012 ... "loan or a debt discharged in a bankruptcy filing." ... bank's lien on the collateral
property will be released free and clear, ... Internal Revenue Service, which could
then become taxable income to a taxpayer. ... Will a customer benefit if second-
lien mortgage debt has been discharged in a bankruptcy fi...