and I've been making current and on time payments on the first mortgage, not a penny to the second mortgage. Nobody at either mortgage company did anything at her death and neither has contacted me in over a year so all has been quiet.
The first trust deed is $150G, the second trust deed is $80G, and the house is valued at $140G. Both mortgages are in her (deceased mom's) name. Again, house warranty deeded, recorded at county, mortgages and all, to me, before her death.
Now . . .
If I file a Chapter 13 (due to income drop) and if all is well with my paperwork and I qualify, how likely is the second mortgage going to be stripped EVEN IF THE 2ND MORTGAGE LOAN IS NOT IN MY NAME??
Good question huh?!? Haven't seen anything here even remotely like it.
This same question was asked by someone in Las Vegas yesterday. You should check to see what responses he gets.
As I said there, I am still not sure if a judge will allow you to strip off the lien because you are not the borrower on the lien holder.
This is only my gut feeling and without reading the rules closely with this in mind, I cannot give you an answer.
There may be no restriction on stripping liens in Chapter 13.
I have not tried it. I have never talked to anyone who has tried it.
I will check back after researching.
Please contact me directly with document for a free 30 minute consultation to get more concrete advice. This is not legal advice. I don't have enough information to give actual legal advice. I can only take the limited information presented and provide a framework to know how your situation may turn out. I may have questions that bring up issues you did not think were important but make a big difference.
The lien stripping provisions would apply to your situation. I would consult with a local bankrutpcy attorney. As I am sure s/he would advise, you need to have your compliance with local probate law air tight before filing bankruptcy.
The answer given is for informational purposes only and does not constitute legal advice. Dwight Bowen is a bankruptcy and consumer attorney and may be contacted at (404) 880-3310.
You should be able to strip the totally unsecured lien, even if it is not your legal obligation.
Our Rating is calculated using information the lawyer has included on their profile in addition to the information we collect from state bar associations and other organizations that license legal professionals. Attorneys who claim their profiles and provide Avvo with more information tend to have a higher rating than those who do not.What determines Avvo Rating?Experience & background
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline