Stripping a 2nd in Minnesota

[ort21452]

My lawyer says they do not strip 2nd Mortgages in Minnesota. Does that sound accurate?

We'll be filing a CH 13 in the next few months. Our home is valued at $325K and we owe $347K on our 1st and $43K on our 2nd - Both mortgages are held by Chase. We're currently up-to-date on our mortgage payments because we've stopped paying our cc's.

[SMinGA]

I don't know state specific rulings - but if this is only the 1st attorney you've consulted, it certainly would be a good idea to get at least 1-2 more consultations in and see what they say.

[Pandora]

I dont believe its a state specific thing - I believe its part of BK law in general. Perhaps the attorney you met with just disagrees with doing it or is inexperienced with doing so.

[daytona]

Bankruptcy is Federal law and happens in federal court...State law should have no bearing on lien strip.....Now Chase might try to argue that the home is worth 347,001.00 and in that case the 2nd couldn't be stripped...(if they can get the court to agree to the value)