CHAPTER 7 AND 13 BANKRUPTCY LAWYERS OF MARTIN, ST. LUCIE, AND PALM BEACH COUNTIES

The attorneys of Stuart and Fort Pierce, Florida's Treasure Coast Legal represent clients from all over South and Central Florida who are unable to meet their monthly mortgage payments and other creditor bills. In Chapter 7 and Chapter 13 bankruptcies, one of the tools that our attorneys use to reduce our clients overall debt load is to elininate second or junior lienholders. This allows homeowners who have mortgages or liens that exceed the value of their primary mortgage to discharge those debts. To discuss this and other innovative debt reduction strategies, contact or Martin or St. Lucie County law offices and schedule an appointment.

Second Mortgage Elimination in the State of Florida

Many of our clients either purchased homes or took out second mortgages in the real estate boom of the mid-2000s. When property values fell dramatically in 2007, multitudes of Florida homeowners were often "upside down" on their houses. In other words, they owed more than the house was worth. In cases where there are two mortgages on a home, the second mortgage debt is subordinated to the first mortgage—meaning that the second mortgage lender cannot collect on debt until the first mortgage lender is made whole. The Federal Bankruptcy Court allows for the elimination of the second mortgage in bankruptcy if it can be demonstrated that the second mortgage holder would not benefit in any way from a foreclosure or short sale of the home. The attorneys of Treasure Coast Legal have been able to discharge hundreds of thousands of dollars worth of debt for many clients by eliminating second mortgages. To find out if you qualify, contact us in our Fort Pierce or Stuart law office.

Professional Bankruptcy Consultants for St. Lucie, Martin and Palm Beach Counties

Even as Florida property values are rising, tens of thousands of homeowners in St. Lucie, Martin and Palm Beach Counties have little or no equity in their homes. If you are in this category and are unable to pay your monthly bills, you might consider bankruptcy with a second mortgage elimination. To find out if you qualify, contact our attorneys at our Fort Pierce or Stuart law office. To schedule an appointment, dial 772-621-2898.