Category Archives: Chapter 13 Lien Stripping

What Is the Difference Between Avoiding a Junior Mortgage Lien and Discharging a Mortgage Loan in California Bankruptcy?

Depending on whether they are eligible for Chapter 7 bankruptcy or Chapter 13, homeowners who file bankruptcy in California with more than one loan secured by a deed of trust (which include home equity lines) may get very different types of debt relief when it comes to their second mortgage. Upon obtaining a bankruptcy discharge […]

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Debt Limits in Chapter 13 Can Prevent the Stripping of Second Liens by Homeowners Filing Bankruptcy in Bay Area

Of those who come into our offices seeking bankruptcy advice in the Bay Area, and who ultimately file for bankruptcy protection, around one third qualify for a Chapter 13 case, while around two thirds are best suited to Chapter 7 bankruptcy. Although it requires repayment of some portion of one’s debts over time, Chapter 13 […]

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It Is Possible to Avoid Foreclosure in Chapter 13 Bankruptcy

Long before the current foreclosure crisis in California, I met with hundreds of San Jose homeowners desperate to save their home from foreclosure. Yes, even when times were relatively “good” for many, there have always been many Californians who have faced foreclosure due to job loss, sudden illness, failure of a small business, and other […]

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San Jose Bankruptcy Attorneys and NACBA Propose Principal Paydown Plan for Chapter 13 to Help Struggling Homeowners

In my San Jose bankruptcy practice, I meet with homeowners nearly everyday who are struggling to stay in their homes because of the foreclosure crisis. Many of them are in their 30s and 40s, and, as recently reported by NPR, disproportionately affected by steep declines in their home’s value because they had the unlucky misfortune […]

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Many Bay Area Homeowners Can Strip Off a Second Mortgage in Chapter 13 Bankruptcy

The San Francisco Chronicle reported yesterday that the number of Bay Area homes that are “under water” (meaning that the homeowner owes more on the property than it is worth) has risen again. For the nine counties comprising the greater San Francisco Bay Area, that number has risen to 24.6 percent (a rise of nearly […]

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California Foreclosures on the Rise Again

While it may not have felt that way to anyone in the Bay Area facing a possible foreclosure over the last year, the initiation of the foreclosure process—the recording of a Notice of Default by the mortgage lender—had been in decline over the first two quarters of this year. That was then. As reported by […]

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