Lien Strip In Minnesota - Bolinske Law
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Lien Strip In Minnesota

Lien Strip In Minnesota

The 8th Circuit Court of Appeals decided not to decide whether a lien strip off is valid in the 8th Circuit. They sent the Fissette case back to the original court to determine some factual issues before they will issue a ruling. This means that lien stripping is still not decided in Minnesota. It seems like all the signs are pointing to it being allowed, but that has not been decided as of yet. If you have questions about getting rid of your 2nd mortgage in a bankruptcy, give us a call at 952-294-0144.

2 Comments
  • David
    Posted at 18:54h, 31 May Reply

    I own a home in the suburbs that is at least $120K underwater, and based on 2013 tax assessment my home is only worth $247K. Both the first and second mortgage are with Wells Fargo- my first mortgage is roughly $303K- I have good credit, never missed a pymt. but I am trapped in a house I no longer want, I”m tired of throwing good money after bad. It’s been suggested I might want to consider buying another property while I still have good credit and then filing a chapter 7. I am eager to do this, but I know it all needs to be legal. Any advice is appreciated.

    • Chad
      Posted at 09:07h, 12 June Reply

      David:

      Sorry about the belated response, but the best way to get some information is to call our office at 952-294-0144. I run into the issues you are having everyday and can help you out.

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