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Lien stripping

(1 post)
  • Started 3 years ago by Georgia

  1. Georgia
    Inactive

    My husband has filed Chapter 7 and I have filed Chapter 13 in the middle district, state of GA. ?We own 24 acres with tax value of $125,000. ?There is a first mortgage of $107,000 and a lien of $146,000 (used to secure credit in my husband's now-failed business). ?Can the lien be stripped down to the tax value of $125,000? ?If so, can we pay the $18,000 ($125,000 minus $107,000) in Chapter 13 plan, and keep the property?
    Posted 3 years ago #

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