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Ellen, Attorney
Category: Bankruptcy Law
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Experience:  Bankruptcy Lawyer. Experienced.
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Can a Bankruptcy judge change or force a mortgage lender to

Resolved Question:

Can a Bankruptcy judge change or force a mortgage lender to change loan terms when a property is under water by over double it's current market value ?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.

In a Chapter 13, a second mortgage may be reclassified as an unsecured debt, if the balance of the first mortgage is greater than the value of the real estate. However,
11 USC 1322(b)(2) prevents any modification of mortgage debt on a debtor's primary residence.
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