Lien stripping is a process whereby someone who owes a second mortgage...
San Diego, CA (PRWEB) July 20, 2011
The San Diego bankruptcy lawyers at the Golden State Law Group hereby announce that they are receiving inquiries and taking new cases from struggling consumers who have second mortgages on their homes and who want to take steps to obtain a fresh financial start all while working to save their homes. This process is known as lien stripping, and the San Diego bankruptcy attorneys at the firm have helped many clients remove those second mortgages through the bankruptcy process.
Lien stripping is a process whereby someone who owes a second mortgage, a third mortgage or a line of credit that’s attached to a piece of real property attempts to convert that debt so that it can be discharged in a bankruptcy case. If a debtor’s home that has been serving as collateral for these additional loans that were recorded against the property has dropped in value to a point where it is below the value of the additional loans taken against it, it can be converted to unsecured debt and therefore discharged in a bankruptcy case.
This process is one that has allowed many people who have filed bankruptcy cases to work out solutions with lenders so that they can save their homes and avoid foreclosure. The San Diego bankruptcy lawyers at the Golden State Law Group provide a free initial review of a consumer’s financial information so that they can provide sound and accurate advice regarding how they should proceed.
About the Golden State Law Group
The Golden State Law Group is a law firm comprised of experienced San Diego bankruptcy lawyers who have helped clients with legal matters that include Chapter 7 bankruptcy cases, Chapter 13 bankruptcy cases, tax debt negotiation matters and California accident and personal injury cases. The firm has been representing the legal rights of consumers collectively and in a litigation setting.
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