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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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For FiveStarLaw- Can I eliminate my second mortgage in a Chapter

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For FiveStarLaw- Can I eliminate my second mortgage in a Chapter 7?
*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*

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Your Question - Can I eliminate my second mortgage in a Chapter 7?

My Answer - No

Explanation - The chapter 7 bankruptcy does not permit a 2nd mortgage to be avoided

Comments - A Chapter 13 bankruptcy can be used to strip off a 2nd mortgage if the first mortgage equals or exceeds the value of the property. The chapter 13 allows the unsecured lien to be treated as an unsecured debt and discharged upon termination of the plan

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