Re: 2nd Mortgage and Bankrupcy-Why Chat

Posted by LadynRed (199.91.33.254) on January 09, 2004 at 09:18:42:

In Reply to: 2nd Mortgage and Bankrupcy-Why Chat posted by 2nd Mortgage on January 08, 2004 at 23:33:09:

You can always have the debt discharged... BUT, if they stop making the payments, the lender has the right to foreclose and if that happens, they WILL lose their home.

In SOME cases of CH 13, 2nd mortgages can be 'crammmed down' or sometimes even stripped, but its a very difficult thing to do and takes a very talented lawyer to pull it off.

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