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Remove Your Second Mortgage in Bankruptcy

Short Sales On Second Mortgages Remain Difficult

by Moe Bedard

One of the many obstacles to resolving the housing mess is that so many people during the boom used their houses as piggybanks, taking out second mortgages and helocs that were often originated by different banks from the originator of the first lien mortgage.  In order to do a short sale–or much of anything short [...]

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Remove Your Second Mortgage in Bankruptcy

by Moe Bedard

Current bankruptcy law allows judges to approve the loan modifications of the terms of certain debts. But is it possible to remove your second mortgage in bankruptcy?
As most of us know, your first mortgage is not allowed to be claimed. But not everyone knows that in the case of second mortgages, if the value of [...]

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