Cram-Downs

Chapter 13 bankruptcy provides the opportunity to create a structured debt repayment plan. As part of this debt restructuring, it gives the option of cramming down, or stripping the lien, from a second mortgage on your home when specific requirements are met.

To learn how we can help you keep your home and your vehicle, call 209-390-8877 to reach our law office in Stockton or 209-800-8962 to contact our law office in Tracy. Our mortgage cram-down lawyers offer a free consultation to discuss your case.

Stockton, California, Lien Stripping Lawyers

Due to the mortgage crisis and subsequent economic downturn experienced over the past several years, many people have found themselves in the circumstance where their home is valued at less than the mortgages taken against the original value.

One option to avoid foreclosure is to file for Chapter 13 bankruptcy and take advantage of the lien stripping provision. Under this provision, if the primary or senior mortgage taken to pay for the home is underwater, then a second, or junior mortgage, may be stripped. Stripping a lien does not necessarily eliminate the debt in its entirety, but it converts the loan from a secured debt to an unsecured debt, thereby removing its priority for repayment in Chapter 13 bankruptcy. As unsecured debt, it is then included in the debt repayment plan.

A similar option may be available if your vehicle is worth less than the remaining balance of the loan taken for its purchase, referred to as cramming down the loan.

Experienced Local Attorneys

We live and work here in the San Joaquin Valley. Our bankruptcy and debt relief practice's leader, attorney David Van Dyke, has been advising people locally since 1991.

For Bankruptcy Help, Contact Us

To learn more about the options available through filing for Chapter 13 bankruptcy, schedule a free consultation today with our Stockton, California, lien stripping attorneys. Call 209-390-8877 to reach our law office in Stockton, California. Call 209-800-8962 to contact our law office in Tracy, California. Or, use our online contact form.

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