Be prepared. Time is running out.
We are Lienstrip Bankruptcy Attorneys in Los Angeles. Do you have a home that’s “underwater”? If so, you’re probaby running out of time to do something about it. Why do we say that? Because real estate values are spiking again. You’ve seen the headlines. House prices are moving up. Every month they go higher. If you want to lien strip a second mortgage, you might be running out of time. That’s why.
Chapter 13 bankruptcy can remove a second mortgage. But you have to qualify. The laws are strict. You must prove that your house is worth less than what you still owe on your first mortgage. If so, we can usually obtain a “lien strip” to remove the second mortgage in a Los Angeles Chapter 13 bankruptcy case. We have been very successful in hundreds of cases over the past 5 years. But that is going to come to an end.
The upward movement of house prices might block you from doing a lien strip. You might already be too late. Your home value might have moved higher than the amount you owe on your first mortgage. Suppose you have house value above what you owe to the first mortgage. If so, you will be prevented from doing a lien strip on your second mortgage in Chapter 13.
Lienstrip Bankruptcy Attorneys in Los Angeles with 34 years of Service.
We have 34 years experience as Lienstrip Bankruptcy Attorneys in Los Angeles. We have seen this golden opportunity come and go several other times. Time is running out on you. If you still want to try, come see us. We’ll give you a free consultation. You will find out your legal rights. You will quickly know all your debt relief options. We have offices in Los Angeles, Long Beach, and Encino.
Do you like reading questions and answers? You’re sure to like the “ASK LEON” column. Los Angeles Bankruptcy Specialist Leon Bayer answers real questions. You will find it on the Nolo Publications bankruptcy blog web site. We are also found on Google+. Leon Bayer is a Certified Bankruptcy Specialist by the State Bar of California. Jeffrey Wishman is a Certified Bankruptcy Specialist byt the State Bar of California.