Law Firm Saves Home For Maryland Bankruptcy Mom
A mother guaranteed a loan made to her son to start a business. The business failed and judgment was entered against the mother for $120,000.00. The Judgment became a lien on her home. This lien swallowed up virtually all of her equity. The creditor began to foreclose. We filed a Chapter 7 case for the mother and succeeded in restructuring the judgment lien over seven-year term outside of bankruptcy. Thanks to this arrangement the Chapter 7 trustee determined that the case was a no-asset case. Subsequently, we moved to lien strip another, smaller judgment lien because this lien impaired her Maryland exemption. Final result: Client has home subject to first mortgage, restructured judgment lien, no asset bankruptcy case and Chapter 7 discharge. Client will capture all of the appreciation in her home.
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.
