Can I get rid of my second mortgage in bankruptcy?

During this down economy, the real estate values have declined drastically. This has caused many to find themselves in an upside- down house. This means that a home’s value is less than the mortgage owed. Unfortunately, this is causing some to walk away from their home without looking for possible solutions to their financial situation. We at The Carroll Law Firm believe that we are the perfect lawyers to help you explore all of your options.

We can help you examine both Chapter 7 bankruptcy which can give you a fresh start and Chapter 13 bankruptcy where you can establish a repayment plan for less than you owe. With Chapter 13 bankruptcy, it is possible to cancel a second mortgage completely. With our firm’s assistance, we may be able to help you obtain loan modification for second mortgages or help in negotiating interest rates.

The Carroll Law Firm understands the fear of losing your home or other property. We know that this can be both scary and stressful. That is why we want to help you to move forward by providing you with our experience, various options, and our support for your family. We recognize that every situation is different, and our goal is to help you make the best decisions for you and your family. Call us now for a free 30 minute consultation.

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