QUESTION
How can I get bank to remove loans taken in after 2008?
Asked on Aug 22nd, 2016 on Bankruptcy - Nevada
More details to this question:
Home value scam was unleashed on Americans for the many who fell for it and now have upside down mortgages.
3 ANSWERS
Underwater second loans can be stripped in a Chapter 13 bankruptcy. Otherwise the only ways to remove secured loans are short sale, deed in lieu of foreclosure and foreclosure.
Answered on Sep 13th, 2016 at 5:18 PM
More details would be needed. How was the debt a scam. Did the borrower not apply for the loan? Did they not receive the money from the loan? Is the balance on the first mortgage greater than the balance on this mortgage loan. There is no simple answer and no single answer either. Suggest meeting with a bankruptcy or debt settlement lawyer to look at the options.
Answered on Sep 13th, 2016 at 5:17 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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I'm not sure this is the place to start a huge class action or a national crusade. Your best bet is to locate a lawyer near you who has experience in suing banks ('lender liability' is a frequent term). He or she can assist you a lot better than this site.
Answered on Sep 13th, 2016 at 5:17 PM