How Can You Get Rid Of Second Mortgages When You File For Bankruptcy Under Chapter 13?

Call: 888-297-6203 If your home value has gone down since you purchased it, you can still get rid of the second mortgage by filing for bankruptcy under chapter 13. Under chapter 13, by using the benefits of Lien Stripping, you can get rid of your second mortgage lien on our house. Understanding Lien Stripping Lien Stripping is a tool that can be used under chapter 13 bankruptcy, in situations where your mortgage value exceeds your House value. In such situations, with the jurisdiction of the court, the second and the third mortgage can be stripped off (removed) preventing [...]


What Happens to Forbearance Programs in Case of Bankruptcy?

Call: 888-297-6203 Natural calamities such as hurricanes can destroy an entire town and its belongings. In such cases, many mortgage companies offer borrowers who have been affected by these tragedies participation in forbearance program. Under this program, elaborate Los Angeles based bankruptcy law firm lawyers, the mortgage payments are suspended for a stipulated time period. This can be a boon for people who have been facing financial issues. with the forbearance of mortgage payments, debtors are provided time to get back on their feet before recommencing their mortgage payments. In the case of natural disasters, forbearance programs [...]