It's widely known that real estate values have taken a beating in the last 5 years. Many junior liens, mortgages and deeds of trust are totally "underwater", because the value of the home is worth less than the payoff of the first mortgage.
In this video, I explain about lien stripping in Chapter 13, a powerful tool to help a debtor strip off a junior mortgage or deed of trust when there's no value to support that lien.
Thoughts from a Maryland bankruptcy lawyer.
Ronald J. Drescher Drescher & Associates, P.A 4 Reservoir Circle Suite 107 Baltimore, MD 21208 (410) 484-9000 Fax (410) 484-8120 Rondrescher@Drescherlaw.com http://www.Drescherlaw.com
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Practicing in Maryland, Delaware, Virginia, Pennsylvania