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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Law » How Does A Second Mortgage Become an Unsecured Debt? Long Beach Bankruptcy Attorney Laura Claveran

How Does A Second Mortgage Become an Unsecured Debt? Long Beach Bankruptcy Attorney Laura Claveran


www.claveranlaw.com Long Beach bankruptcy attorney Laura Claveran discusses how a second mortgage can become an unsecured debt. When dealing with a second mortgage and making it an unsecured debt you must meet certain requirements. The mortgage must pertain to your primary residence. You will need to file a petition in Chapter 13, which is called a lien avoidance or lien stripping. Your property must be submitted to an appraisal. You may also modify the terms of first mortgage which can make your second mortgage unsecured debt. Honestly, this is a complicated process and you should have a good attorney to help you through these steps. Watch the video now to learn more. For more information about bankruptcy law and my firm, visit our educational website at http where we have resources in several different areas of practice. If you have legal questions, I want you to call me at (562) 494-2828. I welcome your call. Claveran Law Firm 5199 Pacific Coast Highway Suite 508 Long Beach, California 90804 Telephone: 562-396-5291 Fax: 562-494-9999

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