Glendale Lien Stripping Lawyer
What Is Lien Stripping?
Many homeowners have been confronted with their home's value dropping
so far below what they still owe on their mortgages that they are faced
with the decision of whether to face foreclosure or attempt to renegotiate
their loans. If your home has decreased in value below what you currently
owe on your first mortgage, you may be able to eliminate your second or
even third mortgages through lien stripping. Under
Chapter 13 bankruptcy, your unsecured liens can be stripped off (discharged) as unsecured debts
as part of the court proceeding. To learn more about this process, you
should speak to a Glendale bankruptcy attorney at
RJB Law Offices.
We have helped thousands of homeowners keep their homes through the use of
Chapter 13 bankruptcy protection since 2001. Our attorneys speak Spanish, Tagalog
and Armenian and are dedicated to helping our clients who are faced with
overwhelming debt and threatened foreclosure to keep their homes and protect
their assets by filing for Chapter 13 bankruptcy. You can protect your
assets and home while paying off your debt interest free.
Lien Stripping Attorney In Glendale
If you qualify for Chapter 13 bankruptcy, any threats of
wage garnishment or repossession will be stopped. The court will issue a "stay"
which means you will no longer be called by your creditors or collection
agencies. The bankruptcy court will review all your unsecured debts and,
depending on your income level and how much "disposable income"
you have to pay towards your unsecured debts, you may not need to pay
anything to have the liens on your home discharged. Chapter 13 is a "reorganization"
program that allows a person to pay off some or all of their debt in three
to five years. The court decides which debts you must pay and how much
of each debt you are responsible for. Your lawyer can explain this to
you in more detail. Call us today to learn about lien stripping and find
out if you are eligible.