How Lien Stripping Removes Unsecured Mortgages

2 days ago
1 min read

Special Episode 5, Short 2

Under certain bankruptcy laws, unsecured mortgages can be reduced or removed when the property value is lower than the total owed on senior loans. This process, known as lien stripping, allows homeowners in Chapter 13 or Chapter 11 to eliminate second or junior mortgages that are no longer backed by equity. By using this legal option, borrowers can restructure their debt and focus only on the portion of the loan that is supported by the home’s actual value.

WATCH VIDEO:

https://www.youtube.com/watch?v=ztNzvbo8W7k

How to Remove a Second Mortgage

Contact Newport Beach Real Estate Attorneys today -- go to NewportBeachRealEstateAttorney.com or call (800) 233-8521 for a complimentary phone consultation.

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