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Can Chap. 11 be used to lien strip junior mortgages?

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    Can Chap. 11 be used to lien strip junior mortgages?

    Can an individual use Chapter 11 to lien strip junior mortgages off a primary residence if the value of the home is below the value of the senior mortgage (much like in a Chapter 13)?

    #2
    You do realize a chapter 11 is also a payment plan, right?

    If all you need to do is lien strip, you would not file a chapter 11.

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      #3
      Originally posted by blanka5000 View Post
      Can an individual use Chapter 11 to lien strip junior mortgages off a primary residence if the value of the home is below the value of the senior mortgage (much like in a Chapter 13)?
      We are doing a Chapter 11 and will be stripping off our second.

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