Your House: Can you keep it in bankruptcy? And if so, what other options are available? How to calculate equity.
SB 61: Eliminate Mortgage Liens in Chapter 13
January 30, 2009 by · Leave a Comment
On January 6, 2009, Senator Dick Durbin (D, IL) introduced Senate Bill 61 called the “Helping Families Save Their Homes in Bankruptcy Act of 2009.” The bill has several provisions, which can be analyzed by following the above link, but the main purpose of the bill is to allow homeowners in a Chapter 13 bankruptcy [...]
Bankruptcy Can Remove Liens Against Your Home
June 25, 2008 by · Leave a Comment
Under certain circumstances, in California, junior liens (deeds of trust) can be removed from your home in a Chapter 13 bankruptcy case. This is known as “lien-stripping.” The way it works is: If the fair market value of your home is less than the amount owed on your first mortgage, you can lien strip (remove) [...]
