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What is lienstripping in bankruptcy and how can it help make my mortgage payment more affordable?

April 26, 2017affordable Bankruptcy help mortgage payment

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What is lienstripping in bankruptcy and how can it help make my mortgage payment more affordable?

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Lienstripping is a process in bankruptcy whereby junior lienholders are stripped, or removed from being a secured debt against the property. It applies only in Chapter 13 cases and only to the debtor’s primary residence. Lienstripping does not apply to rental properties or second homes.