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    littlebird10155's Avatar
    littlebird10155 Posts: 2, Reputation: 1
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    #1

    Sep 23, 2012, 12:02 PM
    Can a second mortgage ever go away after a chapter 7 bankruptcy?
    In Indiana the statue of limitations on a promisary note is ten years I do believe. So is it also true that after a chapter 7 bankruptcy that the second mortgage lien will go away.
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    AK lawyer Posts: 12,592, Reputation: 977
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    Sep 23, 2012, 12:28 PM
    That can be done by motion practice. If the second is unsecured because the amount secured by the first mortgage note is more than the value of the property, the second mortgage can be "stripped".
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