reiser
06-15-2011, 09:16 AM
Chapter 13 bankruptcy permits removal of 2nd mortgage liens when the value of the property is such that there is no equity to cover the 2nd mortgage lien. The mortgage lien can be removed through a confirmed bankruptcy plan, though the debtor must complete the plan which can extend over a period of 5 years.
While bankruptcy is not always the solution, it can sometimes serve as a means to an end.
http://www.njlawconnect.com
While bankruptcy is not always the solution, it can sometimes serve as a means to an end.
http://www.njlawconnect.com