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Wipe Out Second Mortgage Atlanta, GA

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Wiping Out a Second Mortgage

Is Lien Stripping the Right Approach for Your Situation?

If you are underwater on your home, you may have heard that it is possible to strip your second mortgage lender’s lien on your home in bankruptcy. This may be true. However, many factors exist in the very complicated lien-stripping process that you should know about.

At Jamie L. Gingold, PC, GingoldBankruptcyLaw.com (Formerly practicing with Gingold & Gingold LLC), our Atlanta second mortgage relief attorneys — Ira D. Gingold, who has been a bankruptcy attorney since 1971 and Court-appointed Bankruptcy Trustee from 1971-2013, and Jamie L. Gingold, who has been practicing bankruptcy, real estate and business law since 2001 — have the experience to advise you on the best option for your specific situation.

Understanding the Benefits of Stripping a Lien on Your Home

If your home is worth less than what you owe on your first mortgage, the Court in a Chapter 7 bankruptcy or a Chapter 13 bankruptcy can turn your second mortgage from a secured debt to an unsecured debt, potentially making it so that you don’t have to repay it. However, you must provide proof of the home value.

Maybe you have read or heard about wiping out your second mortgage by filing a bankruptcy case. This process is not as straightforward as it may seem, so come to us so we can explain your legal rights.

Some clients can get relief from their second mortgages through the lien-stripping process, but we also know that it is not the right option for everyone. We can help you explore all alternatives, including which type of case is better for you.

Secured Debt vs. Unsecured Debt

Secured debt is a debt that is attached to some form of tangible property. Secured debts include car loans and the mortgage on your home. If you are unable to repay these loans, your lender may repossess your car or foreclose on your property to settle the debt. Unsecured debt such as credit card debt, medical bills and personal lines of credit are not attached to property and are eligible for discharge in bankruptcy proceedings.

Stripping a Second Mortgage · Free Consultation

To learn more about what our experienced bankruptcy lawyers can do to get you relief from your second mortgage and other debts, call us at (678) 915-2634 or e-mail us to schedule a free consultation. We have offices in Atlanta, Cumming, Dallas and Douglasville, with evening and weekend appointments available.

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    Our Client Reviews

    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

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    Jamie L. Gingold, PC

    195 14th Street NE #1604

    Atlanta, GA 30309

    Phone: (678) 915-2634

    Email:

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