How does 2nd mortg. payment get viewed expense-wise when you want to strip it?

[UpsideDown]

Don't know if the title conveys very well what I'm trying to ask, but what I mean is:

I have a 2nd mortgage unsecured by home value, so I want to do a lien strip.
That payment is $700/mo. Since I'm trying to strip the lien and eliminate that debt, is it still allowed as an expense in the DMI calculation?

It would make sense to me, that the $700/mo. would not be allowed as an expense in determining my DMI because I won't be paying it. Obviously, I hope this isn't the case and I'd get to claim it. Otherwise, I might have to search a little harder to find expenses to make up for that $700.

Going to see the attorney this week, so I'll ask her, but I want to be prepared as much as I can. I'd kind of like to know the answer before I ask her. That way I can have all my expenses in order.

[rjl0206]

From my understanding no, you cannot claim it any longer because it has now become unsecured which in turn brings up your DMI. How old is your car? will it survive 7 years without major repairs etc? is it paid off? maybe you can get a brand new car to offset your DMI if your 2nd mortgage becomes unsecured.

Ray

[Trixie007]

From what I understand, the 700 can be used to calculate your DMI on the means test (which is the 6 month historical view) but not on Schedules I/J. If I'm wrong I'm sure someone will be along to correct me shortly.

[UpsideDown]

calling justbroke...........What say you?