In re W.
May 18, 2012OUTCOME: Lien Removed!
We were able to "strip" a second mortgage from my clients' home. When housing values plummeted in California, the value of their house fell below what they owed on the first mortgage, and there was a s ... econd mortgage as well. So, we filed a Chapter 13 and, after getting the house appraised and preparing the necessary documents for filing and service on the bank holding the second, the Bankruptcy Court approved our request to "strip" the second. By the time the Chapter 13 is concluded, my clients will own their home but will not have to pay the second trust deed. In the meantime, my clients have their finances back under control!
