Lien Stripping Attorney in San Jose

In today's real estate market, many families are paying for second and third mortgages that are well beyond the present value of their home. It can be difficult to see how you will ever get ahead when you are underwater and unable to make all of your mortgage payments.

It may be possible to eliminate a second or third mortgage through lien avoidance ("lien stripping"). At the offices of David A. Yomtov, Attorney at Law, in San Jose, California, we can help you file for bankruptcy and potentially eliminate a second mortgage or line of credit on your home. Contact our bankruptcy law firm to set up an appointment to discuss your situation with David Yomtov, a lien stripping lawyer in San Jose.

What Is Lien Stripping?

Lien stripping, or lien avoidance, is the removal of a second mortgage or other subordinate lien on your home. This may be possible if the value of your home has dropped below the amount of your primary or first mortgage. When this happens, your second mortgage or line of credit becomes unsecured and may be discharged in a Chapter 7 or Chapter 13 bankruptcy.

Lien Stripping on Second Homes or Rental Properties

If you have an additional real property, such as a second home or a rental property that is undersecured, then any second mortgages or lines of credits on that property may also be avoided, in whole or in part. Even the first mortgage may sometimes be modified by the Bankruptcy Court, at times, if the property's value has fallen below the outstanding debt balance, so that it becomes partially secured and partially unsecured.

Will Lien Avoidance Work for Me?

At our firm, we can help you determine if lien avoidance is possible for you. It is often easier to remove subordinate liens from rental or vacation properties than it is on a primary residence. However, if you are unable to pay your mortgages, we will help you pursue the debt relief you need to get your finances back under control.

With more than 15 years of experience, David Yomtov will help you explore all of your bankruptcy and debt relief options. When necessary, we consult with appraisers and other real estate experts to help you determine the value of your property. We can also work with you to help you temporarily stop home foreclosure.

Contact a Chapter 7 and 13 Bankruptcy Lawyer Serving Sunnyvale and San Jose

David Yomtov, a Chapter 7 and 13 bankruptcy attorney, can help you get the debt relief you need. Contact our bankruptcy law firm to set up a consultation. We help clients throughout the Sunnyvale, San Francisco and Silicon Valley region from our office in San Jose.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.