Legal Question in Bankruptcy in Florida

I was referred to your firm by America on Line Bankcruptcy. We have filed for bankcruptcy under chapter 7 and are interested in obtaining a Lien stripped from my mortgage which is currently held by my second mortgage. The current value of my property is less than the value of the first mortgage, which leads me to believe that I can obtain a Court Order in my favor regarding the Lien Stripping. My question is: How do I do this and when do I file this request with the Court? Should it be done prior to the Creditors' meeting or after the bankcruptcy is discharged? My meeting is coming up on July 17th, so I believe that time is running against me. Your earliest response would be greatly appreciated. Thank you.


Asked on 6/26/15, 8:53 am

2 Answers from Attorneys
R. Jason de Groot R. Jason de Groot, P.A.

You have asked the question on a forum, and it is not to a firm. To my knowledge, we can no longer strip the second mortgage in bankruptcy court. The Supreme Court of the United States came out with a ruling earlier this month which does not allow this anymore.

Read more
Answered on 6/26/15, 9:02 am
L. William Porter, III Bogin, Munns & Munns, P.A.

Based on a very recent U.S. Supreme Court case, this particular lien-stripping option is not available anymore (in a chapter 7 context). You might need to consider a conversion to chapter 13 to attempt it there. Talk to your attorney.

Read more
Answered on 7/08/15, 6:48 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Florida