Tag Archive for: mortgage

Surrendering your home in a Chapter 13

Why would you want to surrender your home in a Chapter 13 bankruptcy? A lot of people file a Chapter 13 to prevent their home from being foreclosed on, but that doesn’t mean that you can’t surrender your home in a Chapter 13 bankruptcy just as you could in a Chapter 7 bankruptcy.  If your income is […]

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Stripping liens secured by a second mortgage

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 […]

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