Thanks for the quick response once more. Unfortunately, because you have quite a bit of equity on your property at this time, you cannot file bankruptcy to get rid off the second mortgage. Had it been that your mortgage was much higher than the current value of your home, I would have recommended a Chapter 13 to strip the second loan because the second would have been totally unsecured if your house was worth $220,000.00 or less. Right now your house value of $320,000.00 is greater than the two loans on the house $278,000.000. So, if you file, you cannot get rid off the second because it would still be totally secured by your house. The better solution for you now is to keep trying to work with the bank to see if they will finally turn around and do a loan modification for you. All the best,
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