Legal Question in Bankruptcy in California

2nd Morgage company filled chapter 11.

Receaved notice from the Bankruptcy Court that the holder of my second has filed Chapter 11. My house has negative equity could this loan be discharged by the court?


Asked on 7/13/99, 11:19 am

1 Answer from Attorneys
Marcus G. Tiggs Slate and Leoni, A Professional Corp

Re: 2nd Morgage company filled chapter 11.

Lien striping may be available in a chapter 13, if the value of your home is equal to or less than the first mortgage. This may be available regarless of the 2nd mortgage being in a chapter 11. Note, there may be special noticing requirements.

Further details may be given if you call for a phone consultation. 213-625-0161

I am a Certified Specialist Bankruptcy Law, State Bar of California

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Answered on 7/16/99, 11:33 pm


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