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first mortgage

Filing for bankruptcy. My second mortgage, now my first?

by Jarad 3 Comments

Question:  I am in the process of filing for bankruptcy. I am filing chapter 13 so I can have my second mortgage, which is a line of credit through Bank of America, dismissed. My attorney just called and said that because my first mortgage was obtained after my HELOC, only because we refinanced, that the court may deem the HELOC as my first mortgage. Is this possible?

Filed Under: Bankruptcy, Lien Priority Tagged With: Bankruptcy, filing bankruptcy, first mortgage, HELOC, lien priority, line of credit, second mortgage

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