What happens to your second mortgage in chapter 13?

Answer Chapter 13 bankruptcy appeals to many people facing debt because it allows you to keep your home. Mortgage payments are still paid on the first mortgage to avoid foreclosure. However, depending on ... Read More »

Top Q&A For: What happens to your second mortgage in chapter 13

How to Discharge a Second Mortgage in Chapter 13 Bankruptcy?

Bankruptcy discharge releases the debtor from liability on the part of the debt. The debtor is no longer required to pay any debt that is discharged, and creditors cannot take action to recover the... Read More »

Can a second mortgage be discharged in a Pennsylvania chapter 7 bankruptcy?

According to Nolo, you can discharge a second mortgage in Chapter 7 bankruptcy. Pennsylvania follows U.S. bankruptcy laws, which allow a trustee to consider a second mortgage as a dischargeable, un... Read More »

How to Remove a Second Mortgage and Possibly Using Chapter 13?

You can eliminate your 2nd mortgage from your home. Learn how you can completely eliminate your second mortgage.

What happens to a second mortgage after foreclosure?

When a first lender forecloses on a property without enough equity to pay the second mortgage, the second mortgage loses its security interest in the property.Recourse LoanA recourse loan allows a ... Read More »