Strip a Junior Lien (HELOC or Second Mortgage) in Chapter 13 Bankruptcy

If you owe more on your mortgage than your house is worth  (“upside down”),  you may, if all the conditions are right,  be able to remove a second mortgage or Home Equity Line of Credit (HELOC loan) by filing Chapter 13.  For example, if you have a first mortgage of $400,000 and later you took out a home equity line of credit of $100,000 and due to falling home values your house is now valued at $300,000, you may very well be able to rid yourself of the $100,000 loan by filing Chapter 13 bankruptcy.

Contact Jeremy Peck for a free consultation and to discuss stripping a junior lien at (831) 224-3199 or send an email!

Jeremy Peck serves residents of Monterey, Santa Cruz, and San Benito Counties helping them with their debts problems.