Lienstripping and Chapter 13 Bankruptcy
What is Lienstripping in Chapter 13 Bankruptcy? Chapter 7 Bankruptcy or Bankruptcy Discharge does not get rid of liens. Bankruptcy discharge only gets rid of your personal liability to the debt and the lien will remain in the property. If you want to get rid of a junior lien on your home (aka second mortgage, equity line of credit), you […]
Liens and Bankruptcy
What liens can bankruptcy remove? The answer depends of the type of liens and which bankruptcy chapter filed. Judicial liens, aka judgment liens, by credit cards, personal loans, medical bills, or deficiency from car repossession or foreclosure can be removed in either a Chapter 7 Bankruptcy or Chapter 13 Bankruptcy if you meet the conditions. […]
What is the Best Thing About Bankruptcy?
What is the best thing about bankruptcy? The answer to this question will be different for different people. For some people, the best thing about bankruptcy is discharge of debts. Bankruptcy can be a huge relief if you have insurmountable credit card debts, medical bills, unsecured personal loans, deficiency from car repossession or foreclosures, guaranteed […]
Raising Home Prices & Chapter 13 Bankruptcy Lienstripping of Second Mortgage or Equity Line of Credit
As prices of homes in Sacramento, Stockton, Fairfield, and Modesto, California areas increase, it becomes more difficult to Lienstrip or remove the second mortgage or equity line of credit off your house under Chapter 13 Bankruptcy. If the house is your primary residence, you can only strip off the second mortgage or equity line of credit […]