Think Again Before Walking Away from Second Trust Deeds in Bankruptcy
|by Joseph M. Welch|
Buchalter Nemer A Professional Corporation - Irvine Office
|June 15, 2012|
Previously published on June 2012
Banks and credit unions routinely walk away from second trust deeds where there isn't enough equity to cover the outstanding loan balance plus interest, arrears, costs of sale and attorneys' fees. This is especially true where the borrower files a chapter 13 bankruptcy case, which allows certain secured liens to be completely avoided.
The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.
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