Tag Archives: Homeowner

Can Bankruptcy Remove my Second Mortgage?

Can Bankruptcy Remove my Second Mortgage?

A Chapter 13 bankruptcy can help rid yourself of your mortgage debt.

Short Answer: YES — but only in a Chapter 13.

If you own real estate with a second or other subsequent mortgage, chances are you can remove that lien in a Chapter 13 bankruptcy case. In many instances, at least locally in San Diego County, we are seeing real estate values decline dramatically. With real estate declining as much as it has, most second and other mortgages beyond the first are wholly unsecured.

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