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Golden State Law Group Golden State Law Group

Golden State Law Group Golden State Law Group

Golden State Law Group Golden State Law Group


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Golden State Law Group offers an unmatched legal team and we make it affordable by offering very attractive INTEREST FREE financing.


  • David is a very experienced attorney specializing in personal bankruptcy, Mr. Weil is a caring but tenacious advocate.
  • My back was up against the wall and you came through! Thank you for taking care of all of my stress and financial pressure... I have not slept this well in a long time. You are truly appreciated.
    - Actual Client Andrew S.
  • You guys really did make the whole process as easy and painless as possible... Thanks so much.. I did finally get my final paperwork like two weeks ago!!! Yayyy!!!! Thanks to: Polo, David Weil, Jorgette, and Jonathan... great team.
    -Actual Client Elizabeth
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Fax: 619-331-0911
591 Camino De La Reina, Suite 525
San Diego, CA, 92108

Chula Vista

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Lien Stripping

San Diego Lien Stripping Lawyers
Freeing Your Assets

When people in San Diego County take out second or third mortgages on property or they take out a line of credit that's secured by property, the manner in which the creditor's interest is recorded is known as a lien.  When this lien attaches to property, it can prevent the transfer of that property until the lien is lifted, which generally means that it's paid.  However, there are other strategies to remove liens that encumber an asset, and the best step to take to complete this process is to contact San Diego lien stripping lawyers.  Below is a brief description of this issue.

A Brief Description of a Lien

A lien is a security interest in property, most often real property, that's recorded in consideration for the extension of a line of credit or a second or third mortgage.   Homeowners will generally borrow against their home or property when there is sufficient equity to do so, and this is usually done so that the homeowner can make additional investments in the property.  Unfortunately, with the falling property values that are crippling the country as a whole, many of these liens have become a serious problem for people who can no longer afford to pay these notes.

The Process of Stripping a Lien

The goal of lien stripping is to in effect convert the secured status of a second mortgage, a third mortgage or a line of credit into unsecured debt.  Basically, the debtor is removing the attachment of the loan to the home that previously served as collateral.  Lien stripping is basically a court-driven process that involves several steps and procedures.

Generally, in order for a lien to be stripped from property, the debtor must show the court that the value of that property that was used to obtain the loan has dropped to a point that it's now below the amount of the secondary secured debt that's attached to it.  If the debtor can prove that the home has dropped in value to this point, the lien is stripped and the debt becomes unsecured.

Chapter 13 Bankruptcy and Lien Stripping for San Diego Residents

One of the procedures that could be used to strip a lien involves a case that's been filed in the United States Bankruptcy Court under Chapter 13 of the Bankruptcy Code.  This chapter allows a debtor to strip liens and to convert them to unsecured debt, and this step is sometimes referred to as a lien cramdown.

As is the case with Chapter 13 bankruptcy filings, lien stripping is also an option in Chapter 11 filings, which is generally a business bankruptcy.  Unfortunately, this process is not an option for those who file under Chapter 7 of the United States Bankruptcy Code.

Overall, liens can cripple the ability to deal with assets freely.  If you are dealing with this problem, contact the San Diego lien stripping lawyers at the Golden State Law Group today to schedule a free initial consultation.