Legal Question in Bankruptcy in Indiana
bankruptcy
Is it true that you can get rid of a 2nd mortgage through bankruptcy?
Asked on 1/07/09, 9:11 am
1 Answer from Attorneys
C. David DuMond
Law Offices of David DuMond
Re: bankruptcy
You cannot remove a mortgage lien on your property by taking bankruptcy. You can remove your personal liability for the amount of the mortgage loan. So this means the mortgage company can foreclose on the property if you don't make the payments. But you won't owe anything on the deficiency balance.
Answered on 1/07/09, 3:32 pm
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