I am in a 13 now. Just past 3 year mark. My 2nd mortgage at the time was under water but also they neglected to even file a claim. If I can now pay all the other unsecured debtors 100% can I just pay that amount and close out early? Will 2nd still be scratched off ? I still don't understand how a 2nd is removed from title. I had a great year and might have enough to pay all unsecured in the plan. The only secured in plan is 1 car which is $1500 from paid. I can pay that as well.
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If you pay ALL allowed claims and administrative expenses (the trustee) in full in less than your Plan length, you will get out early. Any creditor who failed to file a claim will be subject to your discharge, including the 2nd. If you did a lien strip, the removal of the 2nd lien from public records should happen upon entry of the Discharge. Please read the strip order carefully to determine, what, if anything, you have to file with your County Recorder to make the lien strip "official".
To pay all allowed claims in full you will need a payoff statement from your Trustee. If you have an attny discuss obtaining this with him/her.
Des. -
Thank you.Comment
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