Loan Modification in Bankruptcy


Loan Modification in Chapter 13 Bankruptcy


The threat of losing your home to foreclosure is among the most difficult and stressful aspects of having debt problems. Especially for those people who have two or more mortgages, it can seem impossible to get on top of what you owe. Fortunately, Chapter 13 bankruptcy provides the ability to strip a junior lien from your primary residence if it is valued lower than your combined mortgage total, substantially reducing your total monthly mortgage payments.

At Liviakis Law Firm, we represent clients who are seeking relief from their complex debt problems. As experienced Sacramento loan modification attorneys, we will thoroughly and clearly explain the Chapter 13 bankruptcy process, advise on how it can benefit your financial situation and guide you toward your goal of stability. For a free initial phone consultation, contact us today.

Wipe Out an Unsecured Second Mortgage With a Carmichael Attorney

When a second mortgage is stripped from your residence, it is reclassified from secured to unsecured debt. As unsecured debt, the surplus value of the loan can be included as part of your Chapter 13 bankruptcy repayment plan, which allows you to pay just a portion of it over 36-60 months while continuing to make your primary mortgage payments.

It is of great importance that you work with a bankruptcy lawyer who is able to skillfully assist you in creating a reasonable repayment plan. Failure to complete the repayment plan reinstates what was originally owed on your second mortgage.

Catch Up on Missed Mortgage Payments


Chapter 13 debtors may stop foreclosure actions and catch up on their delinquent loans payments over time. The bankruptcy court can approve a payment plan that repays banks and mortgage companies slowly over time. Modifying a loan through the bankruptcy court is much different than applying for a loan modification directly through the bank. A bankruptcy reorganization plan can be approved without the consent creditors.

Junior Mortgage Modification Help From a Citrus Heights Lawyer


The bankruptcy lawyer you choose can have a large impact on the outcome of your case, and consequently, your financial outlook. Contact an office near you for a free initial phone consultation with a knowledgeable Sacramento and Citrus Heights unsecured second mortgage lawyer who is ready to use his experience to help you achieve your financial goals and help you start building a secure financial future.

With offices conveniently located in Rancho Corodova and Sacramento, I represent clients in communities throughout Sacramento County, El Dorado County and Placer County, California. I offer appointments from 9 a.m. to 5 p.m. Monday through Friday, with free parking available.

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    Client Testimonial

    Wonderful Bankruptcy Attorney!

    I retained Mr. Liviakis after a very bad experience with another lawyer who basically abandoned my case. Mr. Liviakis was thorough in his analysis of the law and the facts of the case and very prompt in responding to all of my questions. His professional handling of the case gave me confidence that the matter would be done right.

    Professional and Talented Attorney

    Very professional and talented bankruptcy attorney. He helped me though a very difficult situation. I recommend Liviakis to others in the community of Sacramento. Liviakis took time to answer all of the bankruptcy questions that I had. My case turned out very well. It was an easy experience and no stress at all.

    They Truly Cared

    After interviewing several lawyers, I decided to use Miki. Miki and his staff were knowledgeable and helpful throughout the process. They kept me informed every step of the way and made me feel like they “cared”. I have worked with a number of attorneys over the past 25 years and Miki is someone whom you can trust.

    Definitely Recommend

    I would definitely recommend Atty. Liviakis to anyone that I know that needs help to sort out their financial problem. Very easy to talk to and always prompt when I have questions. Chapter 11 Client

    Mikalah was the most informed and knowledgeable proffesional i have ever had the privilege to work with.not only did he handle our case succesfully,he treated us with dignity and respect in a very tough time. I highly recomend this attorney he is a man with integrity,a true professional.

    Chapter 7 Client

    Liviakis Law Firm was professional and empathetic to my situation. I felt that I could discuss my situation without judgment or feeling shame. I appreciated the quick communication and professional demeanor of all staff.