Will bankruptcy stop lien on a house? - Bankruptcy Law Questions and Answers- LawQA.com

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Will bankruptcy stop lien on a house?

The house is $75,000 upside down.

Answer By Alan D. Walton
Breckenridge and Walton
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The lien will survive bankruptcy unless it is a second mortgage on your primary residence that has no claim to equity. In which case you should file a chapter 13 to wipe out the second mortgage. If this is not your residence, then you can agree to pay what the property is worth, but have to do so within 5 years.

Answer Applies to: Michigan
Replied: 9/27/2011

Mercado & Hartung, PLLC
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Your personal liablity will be discharged but the house will still be on the hook for the security interest .

Answer Applies to: Washington
Replied: 9/21/2011

Burnham & Associates
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Bankruptcy might not stop a lien, however, it can be used to remove a lien. You should speak with a Bankruptcy Attorney to determine your options.

Answer Applies to: New Hampshire
Replied: 9/19/2011

Answer By Duncan T Pham
D T Pham Associates, PLLC
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A bankruptcy filing will stop foreclosure during its pendency.

Answer Applies to: Texas
Replied: 9/16/2011

Answer By Dan Wilson
Dan Wilson Bankruptcy
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You're asking the wrong question. Why would you want to keep a house that is $75k upside down?

Answer Applies to: Colorado
Replied: 9/16/2011

Answer By David Goldman
Apple Law Firm PLLC
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I am not sure what you mean. A bankruptcy can stop or delay a foreclosure on a home. We would be happy to discuss this situation with you if you want.

Answer Applies to: Florida
Replied: 9/15/2011

Answer By Janet Lawson
Janet A. Lawson Bankruptcy Attorney
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I think you are asking if the bankruptcy wipes out the amount you are upside down on. No, it does not. In Chapter 13 you can wipe out a second deed of trust if it is completely underwater. That requires a special proceeding.

Answer Applies to: California
Replied: 9/15/2011

Answer By David VanDyke
Bird & VanDyke, Inc.
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Depending on the type of lien, it can be avoided during your bankruptcy.

Answer Applies to: California
Replied: 9/15/2011

Answer By Eric Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis
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You cannot keep a house and bankruptcy and remove a lien that has equity. If it is a second mortgage or any type of junior lien, you can "strip" it in Chapter 13 bankruptcy.

Answer Applies to: Indiana
Replied: 9/15/2011

Bankruptcy Law office of Bill Rubendall
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Banruptcy will stop a judgment lien from being placed on a house. Consensual liens, like a mortgage, remain on the house.

Answer Applies to: California
Replied: 9/15/2011

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