Chapter 7 * cases starting at $1000 in attorney fees plus court filing fees of $338
Chapter 13 * cases starting at $750 down which includes the filing fees and then hourly work will be billed
* Please note that all cases require a full consultation before an individual attorney fee quote can be made

Payment Plans Available. Call For A Free 1-Hour Consultation. 

A+ Premier Attorney Rating | The National RegistryA+ Premier Attorney Rating | The National Registry
Awarded | Top 100 Bankruptcy | Blog
A+ Premier Attorney Rating | The National Registry
Photo of Kim Covington

A Personalized, Sensitive
Approach To Bankruptcy

Underwater homeowners in Oregon can stay afloat with Chapter 13

On Behalf of | Sep 27, 2013 | Chapter 13 Bankruptcy

The latest Census Bureau reports indicate that the financial recovery is sluggish in many areas across the United States. Many homeowners in Lane County have taken out second mortgages in past years and are now struggling to make not one, but two mortgage payments in addition to their other financial obligations. Those who are faced with the possibility of foreclosure may want to consider reorganizing their debt and making payments more manageable with Chapter 13. This type of bankruptcy may also allow homeowners to discharge second mortgages altogether.

Second mortgages often referred to as junior liens, can be discharged by filing Chapter 13 as long as certain conditions are met. If the current market value of your home is less than the balance on your primary or senior mortgage, any junior liens on the home can be discharged. For instance, if your home is worth $150,000 but you still owe $150,001 or more on your mortgage at the time you file Chapter 13, the second mortgage could legally be discharged. Junior liens on homes that are not considered underwater, however, cannot be discharged under current bankruptcy laws. Another thing to keep in mind is that most lenders will use their own appraisers to determine the value of a home and could fight the release of a second mortgage based on their valuations.

Chapter 13 is often a feasible way for underwater homeowners in Oregon stay afloat financially, but it is always a good idea to discuss all of the available options with a legal professional before filing. Someone who is well versed with the latest bankruptcy laws, exemptions and local real estate conditions can help you decide if it is in your best interest to file for personal bankruptcy or pursue other means of debt relief to prevent foreclosure.

Source:, “Can Chapter 13 Help Me Get Rid of Second Mortgage?,” Justin Harelik, Sep. 11, 2013.

FindLaw Network

Learn More About Your Fresh Financial Start

The Law Office of Kim Covington, is a woman owned debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 24 years.