Legal Question in Real Estate Law in New York

Bankruptcy-1st and 2nd leins

Finalized bankruptcy 1/3/06. Neither the first or second liens were re-affirmed. Is there a way that we can walk away from the second lien and still remain in this home? Both liens are current with the payments.


Asked on 4/20/06, 11:00 am

1 Answer from Attorneys
Debra Palazzo Law Offices of Debra Palazzo, LLC

Re: Bankruptcy-1st and 2nd leins

I assume the liens are mortgages and the second lien is a second mortgage or home equity loan and therefore the answer is no.

They have a security interest in the property.

Read more
Answered on 4/20/06, 8:12 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in New York