Lien Stripping

San Francisco Lien Stripping Lawyer


One of the more appealing features to a Chapter 13 bankruptcy during this economic climate is called “lien stripping.” Generally speaking, that means a second (or third) mortgage including an equity line of credit is removed from your residence during the Chapter 13 process. You continue paying on your first mortgage, but all the other mortgages will be discharged. This applies to residential properties that are “under water”. The Bankruptcy Law Center of Thomas R. Burns regularly advises clients regarding their lien stripping options. Mr. Burns has more than 20 years of experience practicing bankruptcy. As he has with literally thousands of other clients, he can help you understand what you should do with respect to the multiple mortgages and liens against your home.

Second Mortgage and Bankruptcy Attorney

“Lien stripping” is a course of action to consider when you own your primary residence (i.e., the place you live), but you have more than one mortgage against it. When you “lien strip,” the Chapter 13 case converts these additional mortgages (such as home equity lines of credit and second (and third) mortgages) into unsecured debt. In other words, those additional mortgages get treated just like credit cards and, at the end of your Chapter 13 case, those mortgages are eliminated. Many people take advantage of this part of Chapter 13 to ensure that they will keep their house, not just now but in the future.

Contact a San Francisco Lien Stripping Attorney

To schedule a completely confidential and free initial consultation with a lawyer from the Bankruptcy Law Center of Thomas R. Burns, please call our California law firm at 415-543-9900. You can also schedule your initial consultation by contacting us online.

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