Chapter 13 Second Mortgage and Equity Stripping
Is your home worth less than the mortgages or loans against it? If you have a second mortgage or a home equity line of credit, with the house securing the loan, filing for Chapter 13 may allow you to strip the unsecured loan.
Contact the law firm of Ross & Schnarrs. We are bankruptcy and consumer law attorneys with legal experience helping clients during bankruptcy. We know that your debt weighs heavily on your shoulders. We act quickly and efficiently to assist you with all of your bankruptcy issues, including stripping second mortgages.
Unsecured Liens May Be Stripped From Your Debt
Unsecured mortgages, or mortgages that are not secured because your house is worth less than you owe, can be stripped. We handle Chapter 13 bankruptcy. We will inform you of the benefits of filing for Chapter 13, including stripping second mortgages. Our skilled bankruptcy lawyers will help you get an appraisal on your home or challenge the appraisal by your lender.
Stripping a second mortgage of a home equity line of credit is a huge benefit to you. You will have less debt because the debt will be stripped. Loans that are wholly unsecured ae not backed by the value of the home and can be stripped as part of the benefits of the Chapter 13 bankruptcy.
The benefits of stripping a second mortgage are dependent upon your individual situation. At Ross & Schnarrs we provide personalized attention to you as you consider bankruptcy. We will help you secure a financial fresh start by resolving your debt if you move forward with Chapter 13 bankruptcy.
Contact Ross & Schnarrs Today
When considering bankruptcy, we inform you of the potential issues you may face. We protect your interests by using the state exemption or the federal exemption to save your assets such as your home or car.
We use our extensive knowledge of bankruptcy and consumer law to protect your interests as you consider bankruptcy. Contact Pottstown, Pennsylvania, attorneys skilled at bankruptcy representation today.
