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FAQ

Can a Bankruptcy Remove a Mortgage from my Real Property?

Posted by Stefen K. Shamberg | Aug 13, 2023

A mortgage cannot be removed ("stripped") from a parcel of real property in a Chapter 7 Bankruptcy, but that may potentially occur in a Chapter 13 Bankruptcy if you meet the requisite criteria. 

Specifically, while you cannot strip a first (1st) mortgage, you might be able to strip a second (2nd) mortgage.  However, that would necessitate that the parcel be your primary residence, and that the balance due on the first (1st) mortgage be in excess of the home's reasonable fair market value.  

About the Author

Stefen K. Shamberg
Stefen K. Shamberg

Originally from the Cleveland area, Stefen was principally raised in Mansfield, Ohio.  Upon graduating from high school he attended Kent State University obtaining a Bachelor of Arts Degree, majoring in Political Science.  Interested in the legal profession from an early age, he subsequently earn...

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