Second Mortgages Shed Through Bankrutpcy
Here is a good article about getting rid of 2d mortgages in bankrutpcy. This is called lien stripping. I have blogged on this before. Here is an earlier post that might be of interest.
If you have a 2d mortgage or equity line and if your home is now worth less than what you owe on the first mortgage, you may be a candidate for stripping off the 2d lien and paying it just a fraction as an unsecured debt in a Chapter 13 bankruptcy case. Please feel free to call or email if you want to discuss this possibility with me.