Discharge Second Mortgages - Connecticut Bankruptcy Attorney

Bankruptcy, Mortgage Stripping and Saving Your Home

If you are behind on house payments and in danger of losing your home, bankruptcy may be a viable option for you. Filing for bankruptcy can not only help you save your home, but can also discharge second and subsequent mortgages altogether.

At Attorney Joseph J. D'Agostino, Jr., LLC, we have extensive experience helping people throughout Connecticut with the bankruptcy process. We are dedicated to helping our clients save their property while discharging second mortgages and other types of debt.

Contact us online or by telephone at 203-377-9994 or 203-265-5222 to speak with an experienced Connecticut personal bankruptcy lawyer. For your convenience, we maintain two offices, one in Wallingford and one in Stratford.

Can You Discharge Your Second Mortgage?

Let's take a look at an example case to see how stripping a second mortgage can work for you:

Let's say you took out a mortgage to buy your house two years ago at an appraised value of $400,000. Since then, you have taken out a second mortgage in the amount of $100,000. By filing for Chapter 13 bankruptcy, you may be able to strip the second mortgage altogether, leaving you with only the original value of the home to pay off.

Chapter 13 bankruptcy allows you to reorganize that outstanding amount into a more manageable payment plan. Furthermore, it stops foreclosure, liens and other creditor actions. An experienced bankruptcy lawyer can help you determine if bankruptcy is right for you and if it is possible to discharge your second mortgage by filing for bankruptcy.