Bankruptcy Law

Bankruptcy law questions? Ask a bankruptcy lawyer.

Ask a Lawyer,
Get an Answer ASAP!

I cannot refinance now because they need a Avoidance of Lien…

Customer Question
I cannot refinance now...

I cannot refinance now because they need a Avoidance of Lien Letter. I had a BK back in 2010 and they say I need one on a 2nd mortgage that was part of the BK. How do I go about it?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

Illinois

Lawyer's Assistant: Has any paperwork been filed?

For what are you referring to and when?

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

My mortgage broker advised me that this is what the underwriter advised I will need to open my BK and recluse in order to get this lean avoidance

Submitted: 1 year ago.Category: Bankruptcy Law
Show More
Show Less
Ask Your Own Bankruptcy Law Question
Answered in 2 hours by:
7/31/2017
Bankruptcy Lawyer: Terry L., Attorney replied 1 year ago
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2,983
Experience: Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
Verified

2nd mortgages are not stripped off when you file bankruptcy. If you did not reaffirm the debt, true, the debt is discharged for you personally. That means the lender can no longer collect from you personally. The mortgage lien stays on the home though, that is not stripped off when you are discharged. It must be paid off when you refinance or sell. You can voluntarily pay it down as well. The lien stays, even though your personal responsibility to pay it is otherwise discharged by the chapter 7. You cannot go back and avoid it. The only debts that can be avoided in certain circumstances, are judgment liens recorded against the title that impaired your homestead exemption at the time of filing. Sorry I don't have better news for you. Let me know if you have any questions. thanks

Ask Your Own Bankruptcy Law Question
Customer reply replied 1 year ago
How does this affect from any profits from equity on my property when I go to sell.
Bankruptcy Lawyer: Terry L., Attorney replied 1 year ago

You must pay off the second when you sell, or roll it in when you refi

Ask Your Own Bankruptcy Law Question
Bankruptcy Lawyer: Terry L., Attorney replied 1 year ago

did you have any further questions? if not, please click accept to close question and rate answer so I may get credit for answering. thanks and good luck

Ask Your Own Bankruptcy Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a bankruptcy lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Terry L. Your Own Question
Terry L.
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2,983
2,983 Satisfied Customers
Experience: Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.

Terry L. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Terry L.

Terry L.

Attorney

2,983 satisfied customers

Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.

cortrightlaw

cortrightlaw

Attorney

513 satisfied customers

Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.

JoeLawyer

JoeLawyer

Attorney

376 satisfied customers

Attorney in the practice of Bankruptcy Law since 1996

A.J.

A.J.

Attorney

262 satisfied customers

Experienced consumer bankruptcy attorney.

Fritz

Fritz

Attorney

209 satisfied customers

Florida attorney with extensive experience in Chapter 7 and Chapter 13 consumer bankruptcy cases

Law Girl

Law Girl

Attorney

153 satisfied customers

I am an attorney.

Paul K, Esq.

Paul K, Esq.

Attorney

141 satisfied customers

10 years Exp., Great customer service, Prompt responses.

< Previous | Next >

Related Bankruptcy Law Questions
Hope you can help us. we're trying to reifinance our home
Hello, hope you can help us. we're trying to reifinance our home but found out the American Express put a lien in our property. I filed a bankrupcy in 2010 which includes the Amex charge. Contacted my… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
2,983 satisfied customers
If a collection company claims to have a lien on my property
If a collection company claims to have a lien on my property for a second mortgage loan that was discharged in a Chapter 7 bankruptcy in 2010. I am aware that my personal liability for the second mort… read more
Maverick
Maverick
Doctoral Degree
6,338 satisfied customers
Just have a question regarding my discharged Bankruptcy. The
Just have a question regarding my discharged Bankruptcy. The attorney who handled my BK is being unresponsive (It's been 6 years so I don't even know if he is practicing any more). Anyway. I filed Cha… read more
DrakeLAW
DrakeLAW
Juris Doctorate
1,038 satisfied customers
I need to clear a title before closing. Customer BK
I need to clear a title before closing. Customer BK dischargedyears ago, however it remains TWO item from the BK. that's a lease that is in the discharged BK And another item that popped in dated 1999… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,463 satisfied customers
BK 13, 3 years ago, upside down on home and large debt. 2nd
BK 13, 3 years ago, upside down on home and large debt. 2nd Mortgage was listed on the BK. Now I'm looking to refinance and it seems that the bank has never issued the re conveyance to remove the deed… read more
socrateaser
socrateaser
1,031 satisfied customers
Debtor is on a bankruptcy chapter 13 confirmed plan, along
Debtor is on a bankruptcy chapter 13 confirmed plan, along with the confirmed plan was a motion to avoid a junior lien (2nd mortgage) and was approved too. On the 2nd year debtor noticed that the trus… read more
Maverick
Maverick
Doctoral Degree
6,338 satisfied customers
BK13 in California: Mortgage Lien strip on a 2nd TD was
BK13 in California: Mortgage Lien strip on a 2nd TD was approved in 2010. Then a loan modification on the 1st TD loan was approved, reducing the principal balance to $80,000 less than the 2010 market … read more
Attorney2020
Attorney2020
Lawyer
2,480 satisfied customers
Filed bankruptcy in 2009 discharged 5/2010, had 1 judgement
Filed bankruptcy in 2009 discharged 5/2010, had 1 judgement that was included in bankruptcy. Currently in divorce I am keeping house and am refi with Chase who held the mortgage during bankruptcy. The… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,520 satisfied customers
I am a real estate broker and I am doing a short sale for a
I am a real estate broker and I am doing a short sale for a client who filed a chapter 7 bankruptcy in pro per, she had a judgement for a credit card and she listed it on the schedule with her mortgag… read more
socrateaser
socrateaser
1,031 satisfied customers
I did do a refinance with an online lender that filed bk in
I did do a refinance with an online lender that filed bk in 2007. They recorded it and then 2 weeks later the previous lender recorded a full reconveyance to me and the current first mtg never recorde… read more
Fritz
Fritz
Attorney
209 satisfied customers
Is there a way to be removed from a foreclosure case in Florida?
Is there a way to be removed from a foreclosure case in Florida? - Ex wife got the house in 2009 mediated settlement. - I filed a quit claim deed in April 2010. - I filed an individual chapter 7 bankr… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
Can you please point me to the part of the law which I can
Can you please point me to the part of the law which I can give to the judge in a hearing stating that if I was insolvent at the time a property tax lien was placed on my home, then the lien can be re… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
17 yr old flower business. gross 325,000.00 yr. sole proprietor
17 yr old flower business. gross 325,000.00 yr. sole proprietor owner. in a very tight financial situation. Have used up all my savings. had my son put my house in my name so i could borrow on it to c… read more
Dylatess
Dylatess
JD
1,536 satisfied customers
how to file a petition with the Colorado bankruptcy court to
how to file a petition with the Colorado bankruptcy court to gain consent to modify the first mortgage… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
in a chapter 11 case can the dop void leins arrising from confessed
in a chapter 11 case can the dop void leins arrising from confessed judgements on real estate when the same creditor is protected and secured by amortgage on the same property… read more
Maverick
Maverick
Doctoral Degree
6,338 satisfied customers
we filed bankruptcy and somehow our second mortgage was written
we filed bankruptcy and somehow our second mortgage was "written off. we are wanting to refinance so we can pay off that mortgage. we spoke with the 2nd mortgage bank collection people and they were s… read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers
We filed for chp 7 bk 2 1/2 years ago...we surrendered our
We filed for chp 7 bk 2 1/2 years ago...we surrendered our home and it shows cleared from BK on our credit report...so we are trying to buy a new home and our mortgage broker says she's not familiar w… read more
socrateaser
socrateaser
1,031 satisfied customers
CAN A MORTGAGE COMPANY FORECLOSE ON A 2ND MORTGAGE AFTER IT
CAN A MORTGAGE COMPANY FORECLOSE ON A 2ND MORTGAGE AFTER IT WAS DISCHARGED THRU BANKRUPTCY? COMPANY ALSO HAD AN INSURANCE POLICY ON OUR LOAN IN CASE OF DEFAULT, WHICH THEY FILED A CLAIM WHEN WE FILED … read more
Brent Blanchard
Brent Blanchard
Solo Practitioner
Doctoral Degree
1,964 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x