Stripping Second Mortgages With the Help of a Kent Bankruptcy Attorney
The decline of the housing market has wreaked havoc on the financial security of homeowners. The property value of many homes is less than the first mortgage. From middle-class to wealthy Washington residents, that significant decline in value has led to disaster, requiring bankruptcy protection or foreclosure defense.
At the Iwama Law Firm, we help clients get out from under through Chapter 13 bankruptcy. Under certain conditions, the filing makes it possible to strip away second mortgages. This means your second mortgage will be treated the same as credit cards with balances often eliminated completely.
You have options if your home is currently "under water" and you are experiencing the stress of first and second mortgages. Contact us at 253-656-4851 or toll free at 888-465-0246.
Washington Homeowners Have Options Through Chapter 13 Bankruptcy
You do not have to continue paying a second mortgage that has technically become an unsecured loan. You do not have to go on living with the fear of losing your home and later being sued by the second mortgage holder. At Iwama Law Firm, we are skilled in successfully stripping away second mortgages through the Chapter 13 bankruptcy process. In this way, you may have to pay nothing on your second mortgage while still keeping your home.
Filing for debt reorganization will start a three- to five-year plan of making payments to a bankruptcy trustee. Once the program is completed, second mortgages are stripped away, along with any liens and judgments against the house.
With our help, you can eliminate out-of-control second mortgages.
Contact Us
For more information or to schedule an appointment with an experienced lawyer regarding burdensome second mortgages, please contact us.
