Comments on: Florida Mortgages And Bankruptcy – Chapter 13 And Your Second Mortgage

By: Bankruptcy Alphabet: C is for Chapter Choice

Bankruptcy Alphabet: C is for Chapter Choice — Fri, 27 Jan 2012 14:56:38 +0000

[...] homeowners have a second mortgage, it likely can be stripped and wiped away upon a chapter 13 [...]

By: Bankruptcy Alphabet: A is for Avoidance.

Bankruptcy Alphabet: A is for Avoidance. — Thu, 03 Nov 2011 20:15:55 +0000

[...] refers to it as a lien strip, or stripping a mortgage, but it is really called lien avoidance under the bankruptcy [...]

By: Types of debt in bankruptcy explained and how it impacts your case.

Types of debt in bankruptcy explained and how it impacts your case. — Wed, 29 Dec 2010 21:03:41 +0000

[...] in a chapter 13, if you have a second mortgage or equity line, I may be able to eliminate this debt. But do not stop paying on a current mortgage until you have discussed your options with [...]

By: Lewis Roberts, Florida Bankruptcy Lawyer

Lewis Roberts, Florida Bankruptcy Lawyer — Mon, 29 Nov 2010 15:23:50 +0000

If there is at least $1 of equity supporting the second mortgage, then no strip. The plan length is not determined by the strip. Plan length is determined by income on the means test.

By: Underwater Mortgages In Orlando/Central Florida – 5 Ways To Handle Them

Underwater Mortgages In Orlando/Central Florida – 5 Ways To Handle Them — Sat, 27 Nov 2010 23:42:43 +0000

[...] 5) File for Bankruptcy in Orlando. Chapter 13 or Chapter 7 bankruptcy has the most options within an option. You can surrender your Orlando home in either chapter of bankruptcy. Or you may be able save your home in Chapter 13 bankruptcy if you are behind in payments. Or the best result possible is that you may be able to rescue your underwater mortgage by getting rid of your second mortgage in Chapter 13. [...]

By: Short Sales And Bankruptcy In Ormond/Daytona/Palm Coast/Orlando Florida

Short Sales And Bankruptcy In Ormond/Daytona/Palm Coast/Orlando Florida — Thu, 25 Nov 2010 15:38:18 +0000

[...] tax liability to the IRS). Bankruptcy may also allow you to cancel your unsecured junior mortgages (lien strip). Foreclosure defense is also available – which may give you valuable additional time in the [...]

By: Justin Horning

Justin Horning — Sat, 20 Nov 2010 19:38:43 +0000

“In other words, they get table scraps.” – what does this mean if there is zero equity in the 2nd mortgage? 40%, 30%, 20%, 10% / 36-60 mos?