Under the right circumstances bankruptcy can strip a second (or third) mortgage off your home’s title, and radically reduce how much you pay. Summary Do you have a second or third mortgage on your home? Imagine if you could stop paying that monthly mortgage payment. Imagine over the course of the next 3 to 5 years paying only as … Read More
If you’re having trouble making your mortgage payments, or other home-related debts, here’s a list of the many ways how bankruptcy can help. Here’s the List We’ve got a list of 15 separate ways that bankruptcy can either save your home now or protect it in the near future. Here are the first 7—the other 8 we’ll give you … Read More
Do you have a 2nd or 3rd mortgage, owe property taxes, or have an income tax lien on your home? Chapter 13 may be much better than Chapter 7. The last two blog posts were about situations in which a homeowner is current on the mortgage but has other debts on the home. We showed how Chapter 7 “straight … Read More
If your second (or third) mortgage is not backed by any equity in your home, you can “strip” that mortgage off your home’s title.
Mortgage modification may reduce your monthly payments but not likely reduce your balance owed. So it costs less short-term, not long-term.
Have the flexibility to sell your home when you want, giving time for it to add equity, while keeping creditors away from that equity.