When can a debtor strip a second mortgage?
A debtor can strip (or remove) a second mortgage when the property’s current value doesn’t cover any amount of the second mortgage.
How to strip a second mortgage
First the debtor must have the property appraised and provide the appraisal to the court to show proof of the value of the home. Preferably the appraisal should be recent and the individual who performed the appraisal should be willing to testify in court.