Posted By Westchester County Law Firm
Many people have taken out home equity loans or second mortgages. Second mortgages can be modified the same way first mortgages. Hamp has a provision for second mortgage modifications. In a Chapter 13 bankruptcy it is possible to strip the second mortgage from the house and make it like unsecured debt. It is conceivable that the client would only have to repay 5 to 10% of the second mortgage in a ...