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This document provides detailed instructions for filing a motion to strip a junior lien on real property in a Chapter 13 bankruptcy case, including required information about the debtor, property

How to fill out instructions for strip lien

How to fill out Instructions for Strip Lien Motions

1. Gather necessary documentation related to your mortgage and property.
2. Review the guidelines for strip lien motions in your jurisdiction.
3. Complete the motion form, providing all required information about your case.
4. Attach supporting documentation, such as proof of property value and mortgage statements.
5. File the completed motion with the appropriate court.
6. Serve all parties involved, including the lienholder, with a copy of the motion.
7. Prepare for the court hearing, ensuring you have all necessary documents and evidence ready.
8. Attend the court hearing to present your case.

Who needs Instructions for Strip Lien Motions?

1. Homeowners facing foreclosure with a second mortgage and seeking to eliminate that lien.
2. Individuals who have a mortgage balance higher than the current value of their property.
3. Debtors in Chapter 13 bankruptcy who want to strip off unsecured liens from their properties.

People Also Ask about

What is the purpose of a lien release?

When you borrow money to purchase a car, the lender files a lien on the vehicle with the state to insure that if the loan defaults, the lender can take the car. When the debt is fully repaid, a release of the lien is provided by the lender.

What is lien stripping in chapter 13?

Lien stripping in Chapter 13 bankruptcy is a process that allows you to eliminate a junior lien (such as second or third mortgage) from your real estate. You can strip a junior mortgage (and the associated lien) if the house is worth less than the balance of the senior mortgage.

What does it mean to strip a lien?

During lien stripping , the court directs a lender to remove a lien from your property. This converts your second mortgage (a secured debt) into an “unsecured debt”.

What is lien stripping?

A Motion to Avoid Judicial Lien is a motion your bankruptcy attorney can file in bankruptcy court to remove an involuntary judgment lien from your house or other property after you have completed bankruptcy.

How much does it cost to remove a lien on property?

Cost of Removing a Lien from Real Estate Attorney fees can be a few hundred dollars to several thousand. Court costs could be as little as $50 or add up to several hundred dollars. You may also have to pay the county recorder's office a recording fee to have the lien release document recorded.

For pdfFiller’s FAQs

What is Instructions for Strip Lien Motions?

Instructions for Strip Lien Motions are legal guidelines that outline the process and requirements for filing a motion to strip a lien from a property in bankruptcy proceedings.

Who is required to file Instructions for Strip Lien Motions?

Debtors in bankruptcy who wish to eliminate or reduce the amount of a lien on their property are required to file Instructions for Strip Lien Motions.

How to fill out Instructions for Strip Lien Motions?

To fill out Instructions for Strip Lien Motions, debtors must provide accurate information about their property, the amount of the lien, and their bankruptcy case details, following the specific format outlined in the instructions.

What is the purpose of Instructions for Strip Lien Motions?

The purpose of Instructions for Strip Lien Motions is to guide debtors in seeking removal of liens that are no longer secured by the value of the property, thereby providing financial relief.

What information must be reported on Instructions for Strip Lien Motions?

The information that must be reported includes the debtor's name, bankruptcy case number, description of the property, details of the lien, and any relevant financial information.