Lien Stripping Attorney

Discharging A Junior Mortgage In Bankruptcy

If you are like thousands of homeowners in Michigan, you are “underwater” on your primary mortgage AND paying on a second mortgage such as a home equity loan.

You may know that filing for bankruptcy can stop foreclosure if you are behind on your house payments. But did you know that bankruptcy can also “strip” a junior mortgage, eliminating that debt entirely? Imagine if you had just one house payment instead of two.

At James C. Warr & Associates, PLC, we can help you take full advantage of a Chapter 13 bankruptcy, including lien stripping of a second mortgage if you qualify. Our law firm serves Southeastern Michigan and surrounding areas. Contact us today for a free bankruptcy consultation.

Find Out If You Can Eliminate A Second Mortgage Through Chapter 13

Is lien stripping for real? How does it work?

  • You borrowed against your house to finance home improvements, a business or whatever.
  • That second mortgage (home equity line of credit or fixed amount loan) was secured by the value of your property as collateral.
  • If the balance of your primary mortgage exceeds the current market value of your house, then there is no equity left to cover the secondary mortgage.
  • Your second mortgage/home equity loan is thus wholly unsecured, the same as credit cards and other unsecured debts.

In Chapter 13 bankruptcy, second and third mortgages can be discharged if the first mortgage is underwater. Whether the junior mortgage is $10,000 or $100,000, that debt goes away.

Explore Your Debt Relief Options

In 32 years of experience with consumer bankruptcy, attorney James Warr has helped countless homeowners legally discharge secondary mortgages through the provisions of the Bankruptcy Code.

Call our Oakland County lien stripping lawyer at 1-248-357-5860 to arrange a free consultation, including evenings and weekends by appointment.

We are a debt relief agency that assists people in filing for bankruptcy relief under the Bankruptcy Code.