Bankruptcy and second mortgage removal?
I recently attended my CH 13 bankruptcy meeting of creditors. While there, you have to sit through other people’s file review with the trustee. I heard one couple get asked if their lawyer was filing a motion for “adversary” or “aversion” or something (wasn’t paying complete attention initially). As the trustee continued, he mentioned this would remove their home equity line of credit loan which was being secured by their home since they owe more than the home’s value (now I’m paying attention). I discussed this with my lawyer and he said it’s “possible” but there are additional fees to file a motion ($ thousands) and even more if the case has to actually go to trial ($ 10s of thousands). Of course I am skeptical because my lawyer never informed me of this option before. I am just wandering if anyone else has any knowledge of this and what was the actual term so that I can do a bit more research. Thanks.