Lien Stripping

Gainesville Chapter 13 Bankruptcy Attorney

Many homeowners in the state of Florida have seen the value of their homes decline since the recession began in 2008. When the value of a home sinks below what is owed on the mortgage and when homeowners find themselves having difficulty keeping up on those mortgages, many questions arise. A homeowner in this position may be facing a potential foreclosure and may need to decide whether to allow his home to go into foreclosure or try to get his current loan modified through the lender. If you are facing this problem in Gainesville or the surrounding areas, you should get professional legal help to determine your best course of action.

If you currently owe more on your home than its present value and have a second or even a third mortgage, you may be able to address this problem through a Chapter 13 bankruptcy. Through this type of bankruptcy petition, you may be able to have the second or third mortgage eliminated by the bankruptcy court; the court would discharge these liens as unsecured debt, similar to credit card debt. This might be one way to save your home while reducing your debt load through the legal action of Chapter 13 bankruptcy law.

Experienced Legal Representation

As a Gainesville bankruptcy lawyer with decades of legal experience, I have helped countless clients keep their homes, vehicles, paychecks, and other possessions through bankruptcy petitions. As an attorney, I only represent debtors and am committed to helping you protect your assets, reduce your financial distress, and gain control of your financial scene. By declaring a Chapter 13 bankruptcy, you will receive the protection of the bankruptcy court with an automatic stay that will stop the threat of foreclosure, repossession, wage garnishment, and lawsuits. The automatic stay will allow you to reorganize with a repayment plan that will work for you, under the supervision of the court.

To find out more about how lien stripping may apply to your situation, you should make an appointment to discuss your case with me. I offer a free case consultation in which we can meet personally and explore the legal options that pertain to you.