Do you owe more on your first mortgage than your house is worth? You may be able to get rid of a second mortgage or a home equity line of credit through a Chapter 13 bankruptcy. You must have a recent appraisal showing that the house is worth less than what you owe on the first mortgage and you will have to complete a Chapter 13 repayment plan which will run from 3 to 5 years. You could save thousands of dollars by eliminating a second mortgage or home equity line of credit.
Call us today at (757) 320-2010 to schedule your free consultation with one of our attorneys so we can see if you can save money every month by eliminating a second mortgage.