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.
2 Answers from Attorneys
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.
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.
Related Questions & Answers
-
Will getting married affect me filing for bankruptcy? Asked 6/15/15, 6:09 am in United States Florida Bankruptcy Law
-
I filed chapter 13 in 2014, during the process due some paperwork the case got... Asked 6/03/15, 10:07 am in United States Florida Bankruptcy Law
-
Type Your Question Here...I do not have any questions. Asked 4/27/15, 12:18 pm in United States Florida Bankruptcy Law