Is Your Property in Trouble?

5 Stars

Mark F

"I was with KEL for over five years and the experience was second to none. They did everything they said they would. I highly recommend that you use KEL for your foreclosure defense needs"

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Complete our simple online questionnaire

 

2.

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Stripping A Second Mortgage

In a booming economy, borrowing money against your home’s equity can be a good financial move. Unfortunately though, for most people in the state of Florida and other parts of the country, home values declined rapidly as the economy took a downturn a few years back. For those who took second mortgages on their homes to pay for other expenses, they now find they owe much more than the current value of the property.

In Florida, if your home is worth less than the balance of the first mortgage, and the second mortgage lacks equity, you may be eligible to file Chapter 13 bankruptcy and restructure your debt, stripping the second mortgage. Because there is no longer collateral to back the second mortgage, the loan can be treated as unsecured debt and eligible for part of a structured repayment plan. While this can only be done under particular circumstances, an appraisal of the property and a valuation hearing may be required as well.

Is Bankruptcy Right for You?

We will discuss every aspect of your personal finances with you and explain the entire bankruptcy process. Many people work to avoid bankruptcy at all costs and struggle trying to get a loan modification to hang on to their home. Stripping a second mortgage and filing Chapter 13 bankruptcy may be the best option for you and your financial situation. Contact a Englett and Associates bankruptcy lawyer for a free consultation today, (855) 215-2280.

We offer debt relief solutions in compliance with U.S Bankruptcy Code.

Free Consultation with Experienced Debt Relief Attorneys

To get the facts about restructuring debt through Chapter 13 bankruptcy or eliminating debt through Chapter 7 bankruptcy, one of our experienced bankruptcy lawyers can lay out all your options. At Englett and Associates we practice debt relief through bankruptcy and can answer all of your questions. We’ve assisted hundreds of people throughout Florida and other areas who’ve needed financial help just like you.

Our Locations

Orlando

150 North Orange Avenue

Suite 303B

Orlando, Florida 32801

(407) 455-7359

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Tampa

100 South Ashley Street,

Suite 600

Tampa, Florida 33602

(813) 496-7375

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Fort Lauderdale

888 South Andrews Avenue

Suite 302

Fort Lauderdale, Florida 33316

(954) 334-7776

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Fort Myers

5237 Summerlin Commons Blvd

Suite 305

Fort Myers, Florida 33907

(239) 275-2279

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West Palm Beach

324 Datura Street

Suite 150

West Palm Beach, Florida 33401

(561) 847-7721

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St. Petersburg

970 Lake Carillon

Suite 356

St. Petersburg, Florida 33716

* By Appointment Only*

(727) 497-6076

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Lakeland

Lakeland 1102 S. Florida Ave

Suite 121

Lakeland, Florida 33803

* By Appointment Only*

(863) 327-1724

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Melbourne

6767 North Wickham Road

Suite 400

Melbourne, Florida 32940

* By Appointment Only*

(321) 460-1646

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DeLand

120 South Woodland Boulevard

Suite 203

DeLand, Florida 32720

* By Appointment Only*

(386) 626-0011

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Naples

1415 Panther Lane

Suite 374

Naples, Florida 34109

* By Appointment Only*

(239) 201-2527

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Miami

3350 SW 148th Ave.

Suite 110

Miramar, Florida 33027

(305) 967-6361

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Jacksonville

50 North Laura St

Suite 2566

Jacksonville, Florida 32202

(904) 224-1522

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