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Basically, many courts call it the $1 Rule:
If your mortgage is only $1.00 more than the value of your property, then you can remove and discharge the second mortgage.
On the other side, unfortunately, is that if your property is worth $1 more than your first mortgage, you have to pay the second.
The best thing to do is get an appraisal of the real estate prior to filing and let the appraiser know you "are hoping to get a number of X" and make that number like $5,000 or so less than you owe on the first mortgage to be safe.
Usually if you hire the appraiser and are paying them, sometimes they are helpful and can use comparables around the amount you need.
As far as outside of a Chapter 13, you can contact the second mortgage about the federal Principal Reduction Plan and see if they will reduce or erase the mortgage.
A good site for info on this is www.keepyourhomecalifornia.org
If you have any more questions, please let me know. I will be off and on throughout the day and night and can assist your further.
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