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What is a Lien Strip?

A lien strip is possible in a Chapter 13 bankruptcy when the fair market value of the property is less than the amount due on the senior lien. A second mortgage on a home is a common example of a junior lien that can be stripped if the value of the property is less than the amount due on the first mortgage. In this circumstance, the second mortgage can be stripped and the underlying note becomes unsecured and dischargeable. If the value of your home is worth less than you owe, you may be in a position to strip the junior liens and obtain a loan modification of the senior note.


Why Vannova Legal

The attorneys at Vannova Legal are interested in more than discharging your debt. We offer a full range of options, including but not limited to bankruptcy, to help you get a fresh start. If you own a home, it is standard practice for us to counsel you on the opportunity for a lien strip and loan modification. Our fee structure also makes it possible for the related fees to be deferred and paid through your Chapter 13 Plan.

Benefits of a Lien Strip

By removing junior liens, you may be able to afford to stay in your home. Vannova Legal will examine your options in bankruptcy and with or without a loan modification.


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Jose L., Holladay, Utah
"Thinking about filing bankruptcy was the hardest thing my wife and I ever went through together...
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