If you file Chapter 13 Bankruptcy you may be able to have the court remove the second or third mortgage from your home. This is possible if there is no equity in the second or third mortgage. Assume the home is worth $300,000.00 and there is a first Mortgage of $320,000.00 and a second mortgage of $85,000.00 on the house. In this example since the balance of the first loan is higher than the current market value of the home, there is no equity in the second loan rendering it an unsecured debt. You can ask the court to remove the second mortgage under these circumstances.