Category: Strip off

Can I Strip Off my Home’s Second Mortgage in Bankruptcy?

Whether or not you can strip off your home’s second mortgage in bankruptcy used to be any easy answer to arrive at. If your home was worth less than the balance of the first mortgage, you could strip off any junior mortgage. Historically, this relief was available in Chapter 13 bankruptcies only (see my Chapter 13 web page here: Chapter 13 Bankruptcy).

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