There is a new tool to help struggling homeowners keep their homes, while helping to correct their underwater mortgages. As many home values have fallen below the value of the first mortgage, bankruptcy is increasingly being used to discharge the second mortgage as and unsecured debt. Pretty slick. With lenders slow-walking short sales and reluctant to modify the principal value of mortgages, this may be your best way to “right-size” your mortgage obligations and save your home.
For more details on, follow the link below. If you would like to discuss your options with your underwater home, Ken Can Help!