Eliminating Second MortgagesMassachusetts, New Hampshire, Maine & Rhode Island Bankruptcy AttorneysWOULD YOU LIKE TO ELIMINATE A SECOND MORTGAGEWith our recent economic downturn, many homeowners have lost a sizeable amount of equity in their homes. Many homeowners now find themselves upside down on their mortgages, owing more to their lenders than their homes are worth. With this significant decline in value, many have found themselves in the position where their first mortgage exceeds the value of their home. So what to do with the expensive second mortgage they may have also taken out? It seems ridiculous to make high payments on a second mortgage that is no longer secured by the property. If this is your situation, the experienced Bankruptcy Attorneys at FAMILYLEGAL can assist you in determining whether the option of eliminating your second (2nd) mortgage is possible and right for you situation.This is because the Bankruptcy Laws offers a tool to help homeowners get rid of the second mortgage forever! Through Chapter 13 of the Bankruptcy law, if your first mortgage exceeds the value of the property, you may apply to have the second mortgage cancelled ("stripped") and moved over to become unsecured debt just like your credit cards and other personal debts. Under Chapter 13, you are under the Bankruptcy Court's protection but still making payments on your debts and retaining your property. Thus you still make a payment on the debt but can slash the amount to a sum you may more easily handle. This may give you the financial freedom to more easily pay other debts you are struggling with such as your car loan. Furthermore, if in Five (5) years your house value recovers, the new equity belongs to you! The Bankruptcy Attorneys at FAMILYLEGAL are highly experienced in assisting individuals and families burdened by unsecured second mortgages. We would welcome the opportunity to meet with you and evaluate your situation. We will explain the legal procedures involved and how we may assist you.
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Please take a few minutes to explore the Biographies of our highly skilled and experienced Bankruptcy Attorneys. If you are facing foreclosure, harassing creditors, or overwhelming debt, we encourage you to Contact us to schedule a FREE initial Consultation with one of our experienced Bankruptcy Attorneys at one of our Ten (10) convenient office locations. There is no obligation. However, this FREE initial Consultation allows our Attorneys the opportunity to review your current financial situation, and offer you appropriate and effective options to meet your needs. At FAMILYLEGAL, your initial Consultation with one of our highly skilled Bankruptcy Attorneys is always FREE. Contact us NOW for immediate help with your Chapter 7 or Chapter 13 Bankruptcy.
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- Harassing collection calls
- Foreclosure actions
- Repossessions
- Wage garnishments
- Law suits & Court appearances
- Bill & collection actions
- Property attachments
- Feeling overwhelmed
- Your home
- Your car & motorcycle
- Your modest bank accounts
- Your retirement accounts (pensions/401k/IRA)
- Your personal property and possessions
- Your Recreational vehicles
- Your sanity and dignity
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Forclosures on the Rise It’s been years since rogue mortgage market collapsed causing . . .
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