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Updated about 10 years ago on . Most recent reply
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Can you reverse a stripped mortgage?
A 2nd Mortgage, for which I hold the Deed of Trust, was stripped during Ch. 13 bankruptcy in 2013. The value of the home was approximately the balance of the 1st mortgage at the time, so the court had no problem stripping my $70k balance. Since 2013, the property has appreciated significantly and now has over $200k in equity.
Question: Is there any way to reverse the bankruptcy court's decision to strip the 2nd mortgage now that there is more than enough equity to consider the note secured?
I realize the answer is probably "No", but thought I'd throw it out there.
Most Popular Reply
Wait a few months, I think this is going to the supreme court right now. Any answer you get today will be moot once they decide.