You will be able to keep the house provided you keep making the mortgage payments. In a chpt. 13, if the 1st mortgage amount is higher than the house value, you can strip the 2nd mortgage and treat it as an unsecured creditor. If the house value is higher than the 1st mortgage, then you will need to keep paying both mortgages.
It depends on whether the second mortgage attaches to any equity in the property. If the house is worth as much or more than the first mortgage balance, you may well be able to.
Never get a second mortgage --- only if you want to keep your house. 2nd mortgagees can foreclose on you
Absolutely, you can sell a house with a second mortgage on it. Keep in mind that you will have to provide clear title at time of closing and that the all mortgages (first and second) will need to be satisfied at closing which can be paid with the proceeds from the sale.
yes
When you sell your home all liens against the property have to be paid so you will have to pay off the second mortgage at the closing.
The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.
Depends on the value of the house and any mortgage. If its free and clear, and you have already used your home exemption, then you could possibly lose the house to the BK trustee.
You had to sign and file a "statement of Intention" indicating if you were surrendering the house or reaffirming the debt. If the mortgage company did not send you a reaffirmation agreement, or your lawyer did not prepare one, you should still be able to keep the house, assuming you have continued to make the mortgage payments. If you did not, and are seriously in arrears, you will have to see if a chapter 13 is possible. See a knowledgeable bankruptcy lawyer.
Normally, a debtor can file bankruptcy on credit cards and keep their home, but cannot file bankruptcy on any mortgages and keep the home since even a second mortgage holder has the right to foreclose if they are not paid (this is of course assuming there aren't other issues in the case, such as too much equity to keep the home, credit cards recently incurred that are declared non-dischargeable, being behind on mortgage payments, etc.). However, the laws of the particular district in which a debtor resides may provide some exceptions to this general rule. You can get rid of a second mortgage and still keep your property if you file for Chapter 13 bankruptcy. If the debtor can show that the second mortgage is completely unsecured (i.e. the debtor owes more on the first mortgage than the real estate is worth) then you can file a mortgage stripping where the second mortgage is stripped of its lien on the property and you can pay a smaller percent on the mortgage than if it was a secured debt. (src: http://bankruptcylansingmi.com/utilizing-bankruptcy-remove-second-mortgage/ ) This same case law is not applicable in other jurisidctions, so one would have to investigate the laws of their particular district to see what options their jurisiction provides. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person but my opinion is that you should immediately consult with a chapter 13 bankruptcy attorney.
yes
If the payments are current, or if an agreement can be made with the lender, and the exemption covers the equity, a house can usually be kept. Second mortgages are dischargeabe, but, they are not subject to the same laws that unsecured debts are. The lender even after the BK discharge can take action (and probably will). Ususally placing a lien against the property.
It depends on what you want to do with the house secured by the second mortgage and which chapter of bankruptcy you file. First, regarding the credit cards, yes you can always file on multiple credit cards so long as they were not used in anticipation of bankruptcy. Generally it is a good idea to wait at least 90 days since any card was used before filing the bankruptcy case, and DO NOT make any charges once you think you may file bankruptcy. The run-up-the-cards-before-filing-bankruptcy technique many people think is so clever may be deemed fraud and can result in a federal lawsuit (called an Adversary Proceeding) and repayment of the debt plus attorneys fees. Second, regarding the second mortgage: If you want to keep the home, the second mortgage must be kept also UNLESS you are filing Chapter 13 AND the amount of the first mortgage exceeds the value of the home at the time of filing. So, in the vast majority of cases, if you file bankruptcy you are stuck with all mortgages if you want to keep the home. By way of example of the rare instance when a junior mortgage can be discharged in bankruptcy, say your home is worth $100,000, and you owe $101,000 on your first mortgage. If you file Chapter 13 (repayment plan), you can "strip" the second mortgage (and third, fourth, etc) since the amount owed on the first mortgage exceeds the value of the home. In Chapter 7, you have to keep all mortgages regardless of the value. Another example, say you owe $99,999 on the first mortgage and the home is worth $100,000, and you have a second mortgage on which you owe $50,000. The entire $50,000 second mortgage survives no matter what chapter of bankruptcy you file because it is secured by $1. Yes, only $1 can commit you to the entire second mortgage. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!