Through a lien strip, the bankruptcy court essentially takes your second mortgage (which is. The second mortgage (or other junior lien) you strip is treated as a.
High court rules 2nd mortgages can’t be voided in bankruptcy. June 2, 2015. WASHINGTON (6/2/15)–Homeowners cannot void a second mortgage using bankruptcy protection, the supreme court ruled Monday. The case, Bank of America v.
Fremont Investment & Loan: High Court Rules That “Try Title” Procedure Only. MERS (embedded below), Superior Court Judge Raymond Brassard became the second.. A Mass. bankruptcy court judge recently voided the foreclosure of a mers mortgage. judge: Lenders Can't Have Their MERS Cake And Eat It Too.
It is possible to get a mortgage after a bankruptcy if you know where to look.. However, that is more the exception than the rule.. the lender will see the Chapter 7, 11 or 13 reported by the U.S. District Court.. You will probably have to put money down and will have a high rate but paying. Guide to 2nd Home Financing
Chapter 7 Bankruptcy: discharge of 2nd mortgage There is obviously little concern with the primary lender in the question, but it is not clear that the proposed or pending sale of this house will sufficiently cover that particular loan.
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WASHINGTON (AP) – A unanimous supreme court says homeowners who declare bankruptcy can’t void a second mortgage even if the home isn’t worth what they owe on the first mortgage. The justices.
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WASHINGTON (AP) – A unanimous Supreme Court ruled Monday that homeowners who declare bankruptcy can’t void a second mortgage even if the home isn’t worth what they owe on the primary mortgage.
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Lien stripping is a Chapter 13 bankruptcy tool that allows people who are upside down (meaning your mortgage exceeds the value of your house) on their house to get rid of their junior liens such as second or third mortgages. Through a lien strip, the bankruptcy court essentially takes your second mortgage (which is a secured debt where the.
The options for modifying a mortgage in bankruptcy from lien stripping to. the bankruptcy court can adjust your mortgage in a Chapter 13 bankruptcy case.. funds would be used to pay the first, leaving nothing for the second mortgage.