Bill and Mary had a home equity mortgage on their Woodhaven home. Like many Americans when home values collapsed in 2009, they ended up owing mortgages on a house worth less than half of what they bought it for a few years earlier. They came to us for help with a pending foreclosure, but we did much better than just stop the foreclosure. We were able to use a Chapter 13 bankruptcy proceeding commonly called a “lienstrip” action. Basically, when a person owes a second mortgage, but their first mortgage is already more than their house is worth, they can discharge the second mortgage in a Chapter 13 bankruptcy and “strip” its lien off their house. Bill and Mary are not protected from foreclosure, and stand to Discharge their second mortgage in a few short years.