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Thank you for your question. I am happy to assist you.The chapter 7 bankruptcy will discharge your personal liability on the home equity mortgage but not the lien on the property. This means if the property were to be foreclosed, the lender could sell the property to satisfy the debt but could not obtain a judgment against you for the unsatisfied portion of the debt. However it also means that you cannot sell the property without paying the mortgage in full
Only a chapter 13 bankruptcy can strip a mortgage
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So a chapter 13 if it was taken say 2yrs or so after a 7 would free the lien, because the loan would be paid back but at a much lower rate?
Chapter 13 bankruptcy can strip off a junior mortgages if the first mortgage equals or exceeds the value of the property. So in theory you could file a chapter 13 a couple years after the 7 to strip the 2nd
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