You can lien strip a junior mortgage.
A) Always because it helps the debtor get a "fresh start."
B) Only in Chapter 7 bankruptcies.
C) Sometimes in Chapter 13 bankruptcies.
D) For both Chapter 7 and 13, but only if the debtor passes the Means Test.
Correct Answer:
Verified
Q2: Homestead equity limits are the same in
Q3: A divorce case won't affect a bankruptcy
Q4: When a debtor has fallen behind on
Q5: Since the debtor is two months behind
Q6: In order to reduce the balance on
Q8: The debtor plans to relocate to another
Q9: Escrow means that the taxes and insurances
Q10: The following can be escrowed:
A) property taxes.
B)
Q11: How does an escrow affect calculations for
Q12: All mortgages are automatically escrowed.
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