消除您的第二按揭

IT IS POSSIBLE TO ELIMINATE YOUR SECOND MORTGAGE COMPLETELY

 We have helped over a thousand businesses and individuals with their unique legal needs and obtaining fresh starts. Our team of professionals have extensive experiece in litigation, Chapter 7, 11, and 13 matters.

Our company motto is "a fresh start is just around the corner." We not only file bankruptcy for you should that be the best scenario, but in our initial consultation we take our time to ensure that bankruptcy is in fact your best solution.

In this unprecedented economic crisis, the Law Offices of Steven P. Chang has been able to utilize existing bankruptcy laws to help many of its clients to strip off their second mortgage. This is in fact an extraordinary feat. This strip off of lien essentially eliminates the second mortgage completely.

In a Chapter 13 bankruptcy, we have successfully helped many clients obtain a plan to completely eliminate their second and third mortgages. There are of course conditions and requirements. One of the threshold requirements is that the second mortgage must be wholly unsecured.

For example, let’s say if in 2003 you purchased a house for $500,000.00 with a 80/20 loan. You have a first mortgage in the amount of $400,000.00 and a second mortgage of $100,000.00. In 2009, due to the widespread economy and the credit crisis the house is currently worth $380,000.00. In this case, there is not enough value in the house to secure even the first mortgage thereby leaving the second mortgage wholly unsecured.

Therefore, the value of your house is highly contested with the lenders, because if the lenders are able to prove that any part of the second mortgage is secured then it will be able to defeat your attempt to eliminate the second mortgage. Thus, it is imperative to find an attorney with the necessary expertise and experience in handling these types of cases. Our office has successfully helped clients in obtaining approval from the bankruptcy court and successfully defended against the lenders?attempt to protect the second mortgage.

It goes without saying that each case is different, experience is essential, and an individual analysis of each client’s case is mandatory. We hope that everyone reading this article will take this opportunity to call for an immediate free evaluation by one of our attorneys.

"A New start is just around the corner."

 Call us at 1-888-881-6588 for an immediate free evaluation.

Or email us at info@spclawoffice.com for a free 2009 report "Successfully Reducing or Eliminating Your Second Mortgage."