Stripping A Second Mortgage

Chapter 13 bankruptcy is usually the only effective way to relieve yourself of the debt burdens causing you to fall behind on mortgage payments. If you want to save your home from foreclosure and want to keep your home rather than losing it in a short sale transaction, the comprehensive relief provided by bankruptcy will be your best option.

At Sigmon & Henderson, PLLC., in Gastonia, our attorneys help you address the underlying problems of bankruptcy, which is essential to your family's ability to keep your home for the long term. Mortgage modification and foreclosure mediation are usually only good for a short-term fix. They do not address second mortgages and other obligations such as home equity lines of credit and liens on your home.

Without bankruptcy protection, lenders can continue to charge you interest and late fees with no guarantee of rate protection, and pretty soon you are back to where you began, overwhelmed with debt and struggling to make the payments necessary to keep your home.

Contact Sigmon & Henderson, PLLC., to schedule a free initial consultation with an experienced lawyer. We have been guiding the informed decisions of homeowners throughout North Carolina since 1979. Call us today at 704-269-6374.

Gastonia Foreclosure Defense Attorneys

True foreclosure defense and stripping a second mortgage are often possible only through a professional Chapter 13 bankruptcy filing. Bankruptcy protections allow you to remove, reduce or eliminate certain financial burdens on property that has fallen in value, including:

  • Second mortgages
  • Home equity lines of credit
  • Tax liens
  • Mechanic's liens
  • Other liens

Second mortgages on properties that have fallen in value usually have become unsecured mortgages because the property is worth less than what the homeowner owes on the first mortgage. Other unsecured loans such as home equity lines of credit and judgments against you such as liens can be removed, reduced or restructured. This process is often called "lien stripping."

Reducing your financial obligations through bankruptcy allows you to be able to afford a debt repayment plan that will protect your home, car and other assets as long as you stick to your budget and continue to make monthly payments after the completion of the bankruptcy process.

Contact Sigmon & Henderson, PLLC., Today

We can help you adequately assess your ability to strip a second mortgage and liens on your property in order to obtain financial stability and debt relief through bankruptcy. Call us at 704-269-6374 or email us to schedule a free initial consultation.

Please review our FAQ page and complete a first consultation form .

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.