Judge Mannes of the Maryland Bankruptcy Court has ruled that a proof of claim must be filed in order to strip a junior mortgage. Mortgages can be turned into unsecured claims in a chapter 13 case. In many cases, a bankruptcy filer can pay a small portion of a second mortgage or home equity loan in a period of less than five years and never have to make another payment. Generally creditors are responsible for filing a proof of claim or a statement that shows how much they are owed. If this proof of claim is not filed (and it often isn’t), and you have a Judge Mannes case, you run the risk of not being able to strip this claim. Make sure you have an experienced bankruptcy attorney on your side!
Experienced. Trustworthy. Driven.
- Home »
- Bankruptcy » Proof of Claim Must be Filed to Strip Junior Mortgage
Proof of Claim Must be Filed to Strip Junior Mortgage
On Behalf of Wampler & Souder, LLC | Jul 1, 2014 | Bankruptcy |
Categories
- Auto Accidents (25)
- Bankruptcy (21)
- Child Custody (14)
- Construction Law (30)
- Criminal Law (6)
- Divorce (40)
- Estate Planning (7)
- Family Law (13)
- High-asset Divorce (4)
- Injuries (1)
- News (4)
- Personal Injury (20)