Lisa Cahill, Credit Cards Moderator
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If your second mortgage was dismissed in a Chapter 13 bankruptcy, you won't have to make payments on it outside of the bankruptcy. However, you will have to pay a portion if the debt through the Chapter 13 plan. After this is completed, everyhing left on the debt will be wiped out, and no one can foreclose on you.
If you file for Chapter 7 bankruptcy, you won't be able to get rid of the second mortgage, and you'll still be liable for the amount you owe.
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