Experienced Lien Stripping Legal Services in Maryland
Extensive Asset-Protection Experience in Maryland and Washington, D.C.
Lien stripping is an effective way to eliminate some debt so that you are able to effectively and comfortably manage your remaining debt. At the law firm of ROWE BARNETT PLLC, located in Rockville and Greenbelt, Maryland, we have helped hundreds of individuals and families permanently reduce and eliminate debt through lien stripping.
Are you working hard to manage your existing debt, yet are feeling overwhelmed or are falling behind in your payments? Contact ROWE BARNETT PLLC at 301-770-4710 to discuss debt reduction through lien stripping.
The use of lien stripping to reduce debt is increasing, yet is unfamiliar to many consumers. Lien stripping uses Chapter 13 bankruptcy protection to “strip” a second mortgage, third mortgage, or line of credit that encumbers real property.
Chapter 13 can be used to free debtors of their obligation to pay back a second mortgage, third mortgage, or line of credit. This is how this somewhat counterintuitive option works:
- Second mortgages and lines of credit are secured by the home they are attached to.
- If the home value has dropped to the point where it has lost more value than the worth of the first mortgage, the second mortgage may no longer be secured.
- Chapter 13 bankruptcy laws now allow for the debt to be discharged through lien stripping.
Don’t continue to struggle with house payments, and don’t let your home go into foreclosure, without first learning about your lien stripping options. For more information, contact our attorney team for a no-charge consultation.