Do I list a 2nd mortgage with no equity as a secured or unsecured on the bankruptcy petition?

0	Do I list a 2nd mortgage with no equity as a secured or unsecured on the bankruptcy petition? 2nd-mortgage asked Jan 11 '11 at 00:54 rhd ♦♦ 1●3

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0	A 2nd mortgage even with no equity is still a secured debt as it is secured against a collateral, namely real estate. Any loans secured by a collateral is a secured debt. Whether there is equity in the collateral is immaterial. answered Jan 17 '11 at 00:53 CeciliaChen ♦ 66●4

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Asked: Jan 11 '11 at 00:54

Seen: 382 times

Last updated: Jan 17 '11 at 00:53

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