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Forgotten Second Mortgage

During the height of the great recession six or seven years ago, many of my clients with upside down mortgages opted to simply do what I referred to as the unofficial lien strip, whereby they simply did not make the second mortgage payments,…
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Eighth Circuit Permits Lien Stripping

In a ruling issued August 28, 2014, the Eighth Circuit Court of Appeals followed the other seven federal appellate courts in permitting stripping of a wholly unsecured junior residential mortgage in a chapter 13 plan. Jamie and Keeley Schmidt…