Call us today for a Free Consultation
(303) 232-3888
Bankruptcy Law Practice in Denver and the following areas
Elimination of junior liens from your real property. A major advantage of Chapter 13 is the elimination of junior mortgages. When the value of your home is less than the amount owed on a 1st mortgage, you are entitled to have the 2nd/junior mortgage converted to an unsecured debt. You will no longer make any payments on the junior mortgage, and, once you complete your Chapter 13 Plan payments, the lender is obligated to remove the lien from the property records.
This information pertains to Chapter 13 and Chapter 7 consumer bankruptcy. Each state has bankruptcy laws which apply only in that state. The information contained in the preceding is provided for general information purposes and is not a substitute for a legal consultation and it is not intended as legal advice. Every individual's debt and financial situation is different and you should seek independent legal advice regarding you specific situation.
We will never share or sell your email address or phone number.