Lien Stripping in Bankruptcy

If there are multiple liens on your property, or you have more than one mortgage on your home, it may be possible to get rid of a second mortgage or lien through a process called "lien stripping." This is a complex process that may only be attempted in certain situations. It is best to let lien stripping be handled by an experienced lawyer.

"This Is All We Do, and We Do It Well."

At the law office of Prescott Pearson & Tande, PA, we have focused our attention on bankruptcy and related matters for more than 40 years. Our attorneys have extensive knowledge of Chapter 13 bankruptcy, how liens are stripped and what the benefits or drawbacks may be to stripping a lien. If you wish to discuss how lien stripping can help you regain control of your finances, schedule a free consultation. We have helped tens of thousands of clients just like you strip liens and mortgages in order to move forward with their lives.

Why Should I Have a Lien Stripped?

  • When you are facing financial difficulties and are considering Chapter 13 bankruptcy, lien stripping can help you better handle your situation. By stripping a lien, or multiple liens, you are able to pay on only the principal lien or mortgage.
  • A portion of the stripped loan or loans will be paid through Chapter 13, since this type of bankruptcy is designed to repay loans. However, the remainder that is not paid or structured into a repayment plan will be discharged and you will be free of the additional mortgage or loan.

  • When you strip a second lien or mortgage, you do not have to worry about the collateral such as a home. Your home is secured by the first mortgage, and therefore the second is considered unsecured.

Our firm can help you understand lien stripping and what it means for your specific situation when you meet with one of our attorneys. We strive to help our clients get back on their feet and move forward.

"This Is All We Do, and We Do It Well."

Discuss Your Lien Stripping Options With a Member of Our Legal Team

  • Minneapolis-St. Paul Area: 651-968-8096
  • Minnesota Toll Free: 888-366-0827

To learn more about stripping a second mortgage, Chapter 13 bankruptcy, Chapter 7 or any other bankruptcy-related matters, call our firm now or contact our lawyers using our online contact form. We offer a free consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.