After the market crash of 2008, and the resulting depreciation of many residential properties, many home-owners in the Tampa Bay area were able to get rid of second mortgages on their properties. This allowed a great benefit for those seeking to retain their homes, by way of eliminating the debt service of the second mortgage. Bankruptcy law is complicated, but the basics are that if you owe more on your first mortgage than the property is worth, you may void the lien of the second mortgage and discharge the debt in a chapter 13 bankruptcy. While home prices have been steadily gaining over the last few years in the Tampa Bay region, the McIntyre law firm is still working with many homeowners to discharge their second mortgages in bankruptcy. Further, we can assist consumers with restructuring their first mortgage loans. You can learn more about them here. If you are facing issues regarding the servicing or payment of your home loans, we encourage you to speak with the bankruptcy attorneys at the McIntyre law firm.