QUESTION
I have a second mortgage loan that wAs dismissed in bankruptcy in 2010 for $29,000. My house is worth $248,000.
Asked on Mar 08th, 2018 on Bankruptcy - Connecticut
More details to this question:
I have been making those payments until now. What will the bank likely do if I no longer make these payments? A simple lien or are They likely to do something more drastic?
1 ANSWER
Mortgages do not get "dismissed". If your bankruptcy was successful than your personal liability is discharged. However unless a 506 Motion was filed and granted and you completed a chapter 13 plan, then the second mortgage (never first) could be determined to not attach to equity and therefore be considered "unsecured". This is very technical information adn it sounds as though you need to sit with an experienced attorney. Please feel free to contact my firm and I will be happy to go over this with you further.
Answered on Apr 03rd, 2018 at 9:05 AM
Information provided doesn't create an attorney/client privilege nor constitute an offer of services and is only general responses to hypotheticals