Removing Second & Third Mortgages in Los Angeles
Mortgage Debt & Home Equity Loans
A mortgage is a secured debt; the home is collateral for the amount you owe. Second mortgages, home equity loans or home equity lines of credit (HELOC) are also secured by your home. However, if your home is only worth enough money to secure the first mortgage, any additional mortgages are considered unsecured and can be stripped from your property in bankruptcy.
If your second and/or third mortgage becomes unsecured or undersecured, they can be removed from the property and discharged. This process can be complex. But our attorneys are more than familiar with the process and we will be your guides if this option is available to you. If it is not, we will use our resources and experience to find other solutions for your specific situation. At Weintraub & Selth, APC, we focus exclusively on bankruptcy and debt relief. Our lawyers have nearly 70 years of combined experience in this area of the law, and we are prepared for even the most complex cases.