New York Chapter 13 Cram-Downs Possible for Investment Properties, Not Necessarily Easy

Most bankruptcy debtors choose Chapter 7 because it allows them to quickly discharge their unsecured debts. They can keep their houses and cars through exemptions or reaffirmation agreements, but many people, particularly those with investment properties, want to choose Chapter 13 because it offers them the option to strip liens on underwater second (or greater) …

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