If your second mortgage was dismissed due to bankruptcy, can they still foreclose on you?

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This question is about Mortgage Rates

Lisa Cahill, Credit Cards Moderator

@lisacahill • 07/23/20 This answer was first published on 07/23/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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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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