The Chance to Rid Yourself of Burdensome Second Mortgages
Desperate times may have called for desperate measures. A serious financial setback caused by medical issues or a job loss resulted in a second mortgage on your home. The additional burden of a monthly payment coupled with higher interest rates only led to more problems down the road. Bankruptcy may be the answer to discharging or reorganizing that debt and keeping your home.
At Krigel & Krigel, P.C., we help clients start over by discharging and reorganizing unmanageable debt which may include the stripping of a second mortgage.
There is a way to take the secured debt of a second mortgage and convert it to unsecured debt status. Contact us at 816-756-5800 or toll free at 866-245-8887.
Permanent Solution to a Second Mortgage
At Krigel & Krigel, P.C., we take on bankruptcy cases that many attorneys turn down because of their complexities. Second mortgages present challenges. Your home value may have dropped over the years, putting you "under water" and owing more than the house is worth. You may have been served with foreclosure papers. You have a problem that needs a permanent solution, not a short-term fix.
Turning Secured Debt into Unsecured Debt
We identify what you owe versus the value of your home. If your first mortgage exceeds the value of the home, it may be possible to strip the secured debt status of the second mortgage as part of the bankruptcy proceedings, making it a dischargeable loan or part of a repayment plan.
Contact Us
For more information or to schedule an appointment with an experienced lawyer in regards to stripping the secured status from a second mortgage, please contact us.
