SECOND MORTGAGE PROBLEMS? BANKRUPTCY SOLUTION

If you live in the US and have a second mortgage that you can not pay, you can probably discharge the second mortgage in bankruptcy. This leaves you with just the first mortgage to pay and may allow you to stay in your home.

This works for all mortgages other than the first mortgage.

USE A BANKRUPTCY ATTORNEY. Use a bankruptcy attorney who has an office near you.

DO NOT USE AN ON LINE BANKRUPTCY SERVICE. Your attorney fees in bankruptcy can be paid over time as per bankruptcy court order. BANKRUPTCY is for the expert. Money you think you save by doing it yourself or on line will generally cost you more than you save.

DO NOT BE ASHAMED TO DECLARE BANKRUPTCY. Donald Trump was involved with several business which declared bankruptcy.

SMALL BUSINESS CAN DO WHAT THE BIG GUYS DO. Business bankruptcy is often used to restructure the debt of the business, and to force a renegotiation of lease obligations. Sometimes businesses declare bankruptcy in order to "walk away" from leases that they can no longer pay or that they no longer want to pay.

In general, people who declare bankruptcy get their credit rating back faster than the people who negotiate with the bank for lower payments. (Don't ask me. I am not all that fond of credit reporting people anyway.)

I AM NOT A BANKRUPTCY ATTORNEY. The above is just an overview and could contain incorrect advice. If you think bankruptcy could help you, you need to talk to a bankruptcy attorney.