Lien Stripping Attorneys
In the difficult economic condition of our country today, many Michigan homeowners are discovering that their homes are “underwater,” or worth far less than the amount they owe on the mortgage. In such cases, eliminating home equity lines of credit (HELOC) and other second mortgages can be extremely beneficial.
At the law firm of Roose Law PLC, we have helped numerous individuals and families throughout the state to avoid foreclosure, stop creditor harassment and strip off junior mortgages. Our Southfield lien stripping lawyers have nearly 20 years of combined experience in bankruptcy law.
Bankruptcy Can Allow You To Strip Off A Second Mortgage
Many people do not realize that HELOCs and judgment liens are second mortgages. If you have a second mortgage and the value of your home is less than the balance of your first mortgage, Chapter 13 bankruptcy allows you to turn the second one into an unsecured debt that can be repaid at pennies on the dollar.
In essence, Chapter 13 allows you to virtually eliminate a second (or even a third) mortgage if your house is underwater. Lien stripping is a very powerful tool for regaining your financial footing, but it requires the assistance of a bankruptcy attorney with significant experience. Our firm is here to provide the professional, highly knowledgeable legal guidance you require.
Learn More About Restructuring Home Equity Loans In Bankruptcy
To learn more about how our law firm can help you restructure your debt or eliminate a second mortgage, call Roose Law PLC at 248-331-1200 today. You can also contact us online. We return all messages promptly.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.