Bankruptcy
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... More »

After Bankruptcy: Why did Bank of America Forgive My Second ...

robertweed.com/2012/10/29/after-bankruptcy-why-did-bank-of-america-forgive-my-second-mortgage/

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.

How will I know when my debts have been discharged in bankruptcy ...

www.quora.com/How-will-I-know-when-my-debts-have-been-discharged-in-bankruptcy

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? Bankruptcy: ...

Can a Foreclosure Happen After Bankruptcy Discharged the Debt?

thelawdictionary.org/article/can-a-foreclosure-happen-after-bankruptcy-discharged-the-debt/

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 HELOC.

Mortgage Discharged in Bankruptcy is NOT Free and Clear

www.findmywayhome.com/home-mortgage-news/mortgage-discharged-bankruptcy-free-clear/

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 ...

Settlement of Second Mortgages and HELOCs - ZipDebt Debt Relief

zipdebt.com/debt-credit/secondmortgagesettlement/

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...

Getting Rid of a Second Mortgage in Chapter 13 Bankruptcy | Nolo ...

www.nolo.com/legal-encyclopedia/rid-second-mortgage-chapter-13-bankruptcy.html

"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 third ...

Tag Archive for "chapter-13" | Bankruptcy, Debt & Foreclosure Blog

blog.nolo.com/bankruptcy/tag/chapter-13/

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.

Underwater? Negotiating a Settlement On a Second Mortgage

blog.credit.com/2011/07/underwater-negotiating-a-settlement-on-a-second-mortgage-34789/

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?

Bank of America Notifies Eligible Mortgage Customers of Second ...

newsroom.bankofamerica.com/press-release/bank-america-notifies-eligible-mortgage-customers-second-lien-mortgage-debt-extinguish

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...

Helpful Resources

What Happens with a HELOC in Bankruptcy? - AllLaw.com

www.alllaw.com

Debt from a home equity line of credit is discharged in bankruptcy, but the lender ... However, because bankruptcy law "exempts" certain types of property up to certain ... Even though your personal liability is discharged, the bank still has a lien ... paying off the first mortgage, there is little left for the HELOC lender, ...

After Bankruptcy, Do I Owe On 2nd Mortgage? | Bankrate.com

www.bankrate.com

I filed a Chapter 7 bankruptcy that was discharged in 2009. ... 7 bankruptcy and you did not reaffirm the loan, the lender no longer has the right to sue you to enforce its loan. ... the lender's right to sue you, but it does not discharge the liens from the property. ... In your case, the lender may or may not have written off the ...

Chapter 7 and Your 2nd Mortgage | Bankruptcy Attorney David Nelson

bankruptcy-temecula.com

However, the 2nd Mortgage or Heloc would still have a lien on the property. ..... (b ) Is the discharged amount considered a write off and can they send me a 1099 with the .... The 2nd HELOC has been sold then sold again. .... We had an automatic payment plan setup before the bankruptcy occurred, but since the filing , the ...

After bankruptcy what if I don't pay my second mortgage? -Robert ...

robertweed.com

Mar 25, 2010 ... If the value of your house has dropped below what you owe on the first ... Then you can stop paying the first mortgage too, and move out. ..... I thought it was written off so never contacted the collection agency. ..... I am almost 2 years from my chapter 7 bankruptcy discharge. ..... Our HELOC was $200,000.00.

What Happens When a Bank Charges Off Your HELOC After a ...

info.legalzoom.com

HELOC lenders may still have a lien on your home after bankruptcy. ... Loans secured by your property, such as a mortgage and a home equity line of credit, can ... you a loan if you've been through a bankruptcy, no matter when you filed for it. ... or discharge the HELOC loan in bankruptcy, then the lender still has the right to ...