That LIEN and HUNGRY look

October 2008
Las Vegas Business Press (10712186);10/27/2008, Vol. 25 Issue 43, p14
The article reports on "lien stripping" as a means for homeowners to get out from double mortgage payments. Las Vegas Lawyers cite bankruptcy laws and a precedent-setting 2002 9th U.S. Circuit Court of Appeals decision as the basis for the mortgage stripping practice. The procedure involves separating the lien from the title and having the lien removal approved by a bankruptcy judge. This reportedly allows the person to repay a portion of unsecured debts based on income levels. Lawyers believe this can save many homes from foreclosures.


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