One of the most significant powers of a Chapter 13 bankruptcy is the power to strip off a wholly unsecured second mortgage lien. If your home is worth less than the amount of the first mortgage balance, you may be able to cancel the second mortgage lien in Chapter 13. With the dramatic decline of
Foreclosure
Should I file Chapter 7 or Chapter 13?
By Sam Turco on
One of the most common questions asked is whether it is better to file Chapter 7 or Chapter 13. Our firm’s position is that if you qualify for Chapter 7 and if there is little risk of your property being liquidated, then Chapter 7 is the better way to go. The goal is to complete…
Will I lose my home if I file bankruptcy in Nebraska?
By Sam Turco on
Posted in Chapter 7, Foreclosure
Clients always tell me that they need to file bankruptcy but they don’t want to lose their home or car. Lots of people think that they lose all the property if they file bankruptcy as a penalty for being in debt.
Over the past 18 years I’ve seen many foreclosure cycles, but nothing like the…