I have several clients who might benefit from the opportunity to strip off second mortgage liens in a Chapter 13 case. Until recently, my practice has been almost exclusively oriented towards Ch. 7 cases. Most of the Ch. 13's I have filed have been for cases where there is equity in the house.
Recently, I am seeing quite a few cases where the second mortgage is very clearly unsecured - it is not uncommon to see properties where the value is $100k less than the first mortgage.
I have been getting more and more clients who make well over $100,000. While I might get then through the means test, I am quite certain that the US Trustee will move to dismiss some of these cases (perhaps successfully). While I am perfectly happy to litigate these cases when a Ch. 7 is the best option, there are some people who could use Ch. 13 to strip off second liens and also pay off tax debts, etc in a Ch. 13.
I was hoping not to have to reinvent the wheel with the pleadings and plan provisions necessary to strip off the second mortgages. Any lawyers out there who might be willing to send me something to use as a starting point?
Thanks
DCJ
Recently, I am seeing quite a few cases where the second mortgage is very clearly unsecured - it is not uncommon to see properties where the value is $100k less than the first mortgage.
I have been getting more and more clients who make well over $100,000. While I might get then through the means test, I am quite certain that the US Trustee will move to dismiss some of these cases (perhaps successfully). While I am perfectly happy to litigate these cases when a Ch. 7 is the best option, there are some people who could use Ch. 13 to strip off second liens and also pay off tax debts, etc in a Ch. 13.
I was hoping not to have to reinvent the wheel with the pleadings and plan provisions necessary to strip off the second mortgages. Any lawyers out there who might be willing to send me something to use as a starting point?
Thanks
DCJ
Bankruptcy Wizard
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