Lien Stripping

(949) 222-1041

Lien stripping refers to stripping a second or even a third mortgage off a home if the amount owing on the first or first and second trust deeds is greater than the value of the property. For clients who are considering Chapter 13 bankruptcy and are unable to meet their mortgage obligations, lien stripping is a powerful debt management tool. Many people are not aware of this option and can make choices that are more harmful to their financial situation.

By lien stripping under Chapter 13 bankruptcy, clients could be able to:

  • Eliminate second or third unsecured mortgages to free up extra money
  • Begin gaining home equity again once the housing market improves

Loan Modification
Our clients often wish to pursue loan modification and bankruptcy at the same time as a means of keeping their homes while resolving their debt problems. Lenders have generally been willing to enter into loan modification agreements while foreclosures and/or bankruptcy proceedings are pending.  We will review your situation and help you decide which avenue to pursue.

Bankruptcy

Our firm has extensive experience and expertise in bankruptcy, having two Certified Bankruptcy Law Specialists, and we can assist most individuals, married couples and businesses with their financial problems through Chapters 7 and 13.

Client Review

Richard and his team were extremely helpful throughout the BK process. Richard Heston answered all of my many questions and was generous with his time. His staff is well organized, which made a difficult process relatively simple. My bankruptcy was due to a business failure. Heston & Heston helped me understand the personal and business issues both pre and post bankruptcy.

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