The Bankruptcy Code offers a number of interesting code sections that allow for reorganization of secured debt.  The most secured debt that people have are their cars and their homes.  The Bankruptcy Code allows a person that files either Chapter 11 or Chapter 13 to “strip off” a wholly unsecured mortgage.  There is an analysis when the case is originally filed as to whether or not the second mortgage has any equity to secure against.  After the 2008 market recession in the United States, thousands of people benefitted from the laws that allowed second mortgages to be “stripped” away from the property.  With the market rebounding, especially in the Bay Area, lien strips occur much less frequently in cases.  Our attorneys have been cited as experts in this area of the law by the local press, See the Article in the San Jose Mercury News about this area of the law.