Strip a Second Mortgage in a Chapter 7
Re McNealThis is a new landmark Court ruling issued May 11, 2012 from the United States 11th Circuit Court of Appeals (FL, GA, AL), our Federal Appellate Court in Florida.
It has just ruled:
…if you have a second mortgage AND your home is worth less than the amount owed on your first mortgage...you can strip off (discharge forever) the second mortgage in a Chapter 7 case (90 day case) without being in a long term Chapter 13 case for 3 to 5 years.
THIS IS HUGE for Florida Homeowners who have m...













