Corona Reduce Liens Attorney
Financial Solutions Provided Directly From an Established Lawyer in Beaumont, Corona, Palm Springs, San Bernardino and Orange
If you face overwhelming debt and have a second mortgage, you may be eligible to strip down your second mortgage through Chapter 13 bankruptcy. Lien stripping works like this:
- You need to have a second mortgage.
- The current value of your property must be less then the current balance of your first mortgage.
- The second mortgage must be secured by collateral property that is part of your Chapter 13 bankruptcy.
If these conditions are met, then a bankruptcy judge can remove your second mortgage during your Chapter 13 bankruptcy.
Discharge debt by "stripping" your second mortgage. Contact a Beaumont reduce liens lawyer at Sobti Law Group to learn more. Call 888-627-8013.
The stripping away of a second mortgage often makes little sense at first to people new to the bankruptcy process. It may help you to think of it this way:
- Secured debt usually can't be stripped through bankruptcy.
- A second mortgage is secured by the property it was borrowed against.
- But the property is now worth less than the first mortgage.
- The first mortgage takes precedence over the second mortgage.
- The second mortgage is therefore now unsecured and can now be stripped.
At Sobti Law Group, we have provided financial solutions through bankruptcy and alternatives to bankruptcy since 1999 we have served the community we live in. We take the confusion out of bankruptcy and lien stripping by carefully explaining processes while also managing those processes fully for you.
To learn more about which debt relief option will work best for you, contact a Corona lien stripping attorney at one of our eight offices.
Contact Us
At Sobti Law Group, we offer free consultations, are available for Saturday appointments by request, and speak English and Spanish as well as Armenian, Russian, Arabic, Persian, Hindi, and Punjabi. To contact us, call 888-627-8013.
