It depends on the type of liens on your house, the value of your house, and what you owe on your first mortgage relative to the value of the house. For example, if the 4 liens are from court judgments AND the equity you have in the house is less than the available protection you enjoy under state homestead laws, removing all liens will be pretty straightforward. If one or more of the liens are second or third mortgages and the is any equity in your property after subtracting the 1st mortgage, the opportunity to remove these liens will be more limited. If the liens have been imposed by operation of state law, such as a tax lien, HOA lien, mechanics lien, or lien from a public hospital, these liens will not be eliminated by the Chapter 13 process. Whether you will be able to save your home will depend on whether you can afford to pay for it under these circumstances.
Answered on Nov 18th, 2013 at 12:58 PM