going to try to strip the 2nd

[jenopher]

I met with atty's office yesterday. We decided to go 13 and strip the 2nd. He knows the Judge for our area has been approving it and it's still a new thing. They have 2 they are going for in the next week or so and so far everything has been smooth for them. I have an appraiser coming today which is costing another 325.00--ouch! He's estimating our payments to be from 300-400. Of course he's going to go in asking for 200ish and hope to end up no higher than 400. He said you go in in the morning and the Judge meets around 1 and approves it that day. We are going to file next week or early the following week. Depending on how early we get all the paperwork done.

Anyone have any 2nd mtg stripping stories?

[BigJohn]

We are trying to get our 2nd mortgaged stripped. As for us, the appraiser came yesterday. I gave her a bunch of papers of houses in our area selling for less then our 1st mortgage. I also gave her a list of all of the houses' defects. We will not know the 'verdict' till she gets back to us next Tuesday.

[jenopher]

Lol, sad isn't it, we show all the bad stuff trying to prove how little it's worth. I just told them what range we were looking for and they didn't seem to think it was an issue. It really is worth less than the 1st mortgage easily.