PETER M. IASCONE & ASSOCIATES, LTD.
Attorneys at Law
24 years experience

 

Legally Eliminate  

2ND AND 3RD MORTGAGES

REDUCE MORTGAGE BALANCE TO THE CURRENT VALUE OF YOUR PROPERTY  

LEGALLY ELIMINATE 2ND AND 3RD MORTGAGES

CHAPTER 13 allows you to eliminate 2ND and 3RD mortgages.  If your first mortgage balance exceeds the current value of your principal residence the law allows this elimination through chapter 13. It also wipes out any and all other debt that is dischargable which generally consists of all debt except for most student loans and income taxes that are less than three years old.This is an excellent time to file to take advantage of depressed real estate values

REDUCE THE FIRST MORTGAGE BALANCE TO THE CURRENT VALUE OF YOUR PROPERTY

If your mortgage is secured by any assets in addition to your principal residence  you can even reduce your first mortgage balance to the current value of your property. If you are considering CHAPTER, 13 this is an excellent time to file to take advantage of current real estate values.

For example, if you own a multifamily home and live in one of the units you can by law reduced the entire first mortgage balance to the current value of the entire building! Oftentimes, you will find even in single family properties, a credit union will take a lien not only the real estate but also personal property as well.This will also allow you to strip down the balance on your single-family principal residence to the current value of the real estate.  

 Call us for free to find out if you qualify

Providence -  Warwick - Newport - Wakefield - Fall River