In Complex Chapter 13 Case, Debtors Keep Second Home
A family owned a beach house and a house in suburban Baltimore, both of which had dropped in value. The beach house had a second mortgage that was completely underwater. Maryland bankruptcy lawyer Ron Drescher was able to overcome the trustee’s objection by demonstrating substantial business and tax advantages in keeping both the residence and the beach house. Their chapter 13 plan was confirmed by agreement with the trustee. An additional success was that Ron was able to strip off the entirely unsecured second mortgage from the beach house. In five years after the clients finish their course of payments they will be free of all unsecured debt and be able to capture all the appreciation from the beach house. A very happy client.
A Track Record of Success in Maryland, Virginia, Pennsylvania, & Delaware Commercial Litigation & Bankruptcy Cases
DISCLAIMER: Please note that every case is different and these verdicts and settlements, while accurate, do not represent what we may obtain for you in your case.
