does anybody know how lien striping works on 2nd and 3rd - Bankruptcy Forum Chapter 7 13 341 Meeting Credit Collections

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uilani14 started a blog post does anybody know how lien striping works on 2nd and 3rd
07-10-2008, 02:59 PM
does anybody know how lien striping works on 2nd and 3rd

has anyone done a lien strip on a 2nd and 3rd in a chapter 13. and what dose lien strip mean?
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2 comments
- #1
  
  uilani14 commented
  
  07-10-2008, 03:01 PM
  
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  does any one know what is lien striping means?
- #2
  
  brown153 commented
  
  07-29-2008, 09:02 AM
  
  Editing a comment
  
  I haven't done it, but I believe if the property value is below the balance on the first mortgage, then the second and/or third can essentially be wiped out since there is no equity. But there has to be zero equity, not even a dollar from what I understand. And only through Chap 13. That's all I know about it.
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