Legal Question in Bankruptcy in California

Status of 1st and 2nd mortgages in a bankruptcy

The value of my home has decreased about 20% due to BRAC. I would like to dump my home and the 2nd mortgage along with some other credit card accounts. I've seen this done by others around here and want to be sure I can get rid of the 1st and 2nd.


Asked on 3/18/98, 12:55 pm

2 Answers from Attorneys
Ken Koury Kenneth P. Koury, Esq.

Yes you can dump the house

Yes, you can file a bankruptcy and elect not to keep the home and discharge the mortgages.

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Answered on 3/25/98, 12:47 am
Mark Markus Law Office of Mark J. Markus

Status of 1st and 2nd Mortgages in BK

If you are getting rid of the house, any debt left over (deficiencies) may be discharged in bankruptcy. I invite you to visit my web page (address below) and call me if I can be of any assistance.

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Answered on 3/25/98, 1:08 am


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