As a part of your Arizona bankruptcy case, Thomas Law Office may be able to help you remove your second mortgage. If your second mortgage is completely unsecured, meaning that in a hypothetical sale of the real estate, if there would not be even one dollar available to put toward that second mortgage debt, we may be able to eliminate that second mortgage. (It does not matter whether your property is located in Arizona or some other state.) There are various exceptions and complications, so a full analysis with one of our attorneys is necessary to determine whether your property would qualify for this benefit available in Arizona bankruptcy cases filed under either chapter 11 or chapter 13 of the Bankruptcy Code.
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You may be able to erase perhaps hundreds of thousands of dollars in debt using the lien strip option if you qualify for such relief in the Arizona bankruptcy court. It is therefore critical that you meet with our attorneys right away in order to determine whether you could stand to reap the huge benefits that may be available under the bankruptcy laws. Indeed, for some Arizona bankruptcy cases, the ability to erase a second mortgage is a primary motivator to seek bankruptcy relief. Again, not everyone will qualify for this option, so it is important to undergo a specific examination of the details with our attorneys to see whether you could stand to benefit from the option that has been saving millions of dollars for bankruptcy clients.