There are instances in bankruptcy where a homeowner may have the ability to actually “strip” off mortgage liens on his real estate. It is rare for this to occur but if there was ever a time in history for this to happen, that time is now. There are various requirements but it basically comes down to this: (1) The debtor must file a Chapter 13 Bankruptcy (NOT a Chapter 7 Bankruptcy!) and, (2) The value of the home must be less than the amount owed on any senior liens on the property.