Chapter 13 Bankruptcy Lawyers in California and Nevada
If you have a second mortgage on your home, and the actual value of the property is less than the amount of the first mortgage, it is possible to have the second mortgage "stripped," or removed.
At Bankruptcy Law Group, PC, our attorneys are well-versed in lien stripping (sometimes known as "cram downs") and other bankruptcy topics. We are here to help you achieve your debt relief goals.
Contact us today online or call us now to talk to an experienced bankruptcy attorney about removing second mortgages. For your convenience, we have law offices in Sacramento, Fairfield, and Redding, California, as well as Reno, Nevada.
Lien Stripping and Removing Second Mortgages
Filing for Chapter 13 bankruptcy is a means of having a second mortgage stripped. Many people are struggling to make payments on houses and owe far more than the actual value of the property. Filing for bankruptcy can help.
Consider the following example: You owe $400,000 on a first mortgage and $200,000 on a second mortgage, but the actual appraised value of your home is only $300,000. In this situation, filing for Chapter 13 bankruptcy would limit your obligation by completely eliminating your second mortgage.
Of course, every case is different. Our lawyers will work with you personally to gain an understanding of your debt situation, and help you determine whether bankruptcy is right for you. We are here to answer any questions you may have about stripping second mortgages and other bankruptcy law topics.
Schedule Your Free Consultation & Bully Back
If you have questions about removing second mortgages, our bankruptcy attorneys are here to help. Contact us today online to schedule a free debt relief consultation with an experienced Nevada or California bankruptcy attorney. We hold regular office hours and are available evenings and weekends by appointment. We also speak Spanish.
