Lien Stripping

Removal Of Second Mortgages In Delaware

Lien Stripping Laws In Delaware

If you are a Delaware resident and are upside down on your current mortgage or mortgages you may have certain options. The state of Delaware allows for lien stripping at certain times such as a period of declining housing markets. Not everyone qualifies for a lien stripping program in Delaware. Consulting with an experienced Delaware Debt Relief Attorney will help as they will explain all possible bankruptcy or debt relief options to you.

Contact the Delaware Bankruptcy Law Experts at Carucci Di Lorenzo, LLC for a free initial consultation. They are skilled Delaware Bankruptcy Attorneys and will do their best to help you obtain debt relief. Call their Wilmington, Delaware bankruptcy law office at 302 654 5083. You can also click here to email a Delaware Bankruptcy Lawyer at Carucci Di Lorenzo. They are located on King Street in Wilmington and serve those in need of financial relief throughout all of Delaware.

Lien Stripping Laws In Delaware

In Delaware, provided you qualify, you can only enjoy the benefits of lien stripping only if you file a Chapter 13 Bankruptcy. The amount owed for the 2nd, and sometimes 3rd, mortgages is placed into the Chapter 13 repayment plan. This re-categorizes your mortgage debt from secured to unsecured. It is important to note that the Chapter 13 repayment plan must be adhered to and successfully completed over the course of the several year repayment period. ifIf you fail to make the bankruptcy plan payments the original lien or mortgage remains in effect.

Benefits Of Lien Stripping Associated With Filing Chapter 13

A Chapter 13 bankruptcy is merely a repayment plan. You do not relinquish any assets and get to keep your home, car(s) and personal property. The primary benefit of filing a Chapter 13 and taking part in lien stripping is that all debt is consolidated into 1 easy to make monthly payment. In addition, you get relief from the nonstop calls from creditors as soon as you file.

Contact A Delaware Lien Stripping Attorney

Call the Delaware Lien Stripping Lawyers at Carucci Di Lorenzo, LLC. They can be reached at 302 654 5083. You can also email a Delaware Debt Relief Law Office here to discuss your debt relief alternatives and options. Carucci Di Lorenzo offers free consultations to those in need of debt relief in New Castle County, Delaware, Kent County, Delaware and Sussex County, Delaware.