Can you cram down a mortgage in Oregon during a chapter 13 case?

Chapter 13 bankruptcy mortgage cramming Oregon rules do allow for you to reduce the value of your mortgage in certain instances. A mortgage cram down essentially involves reducing the balance of the loan due. However, you generally cannot have a mortgage cram down on a primary residence unless there is either a second mortgage on the house or unless you also have something securing the house besides the house itself. 

If you have a second mortgage and the house is worth less than what is owed, you can have the balance reduced so that the total balance is for what the house is worth. The remaining balance then essentially becomes unsecured debt that is treated like any other unsecured debt. The same is true if you have something besides the house acting as collateral for the home, such as a guarantee on a second house or a second plot of land. Finally, if you use the home for some type of income or as an investment, such as renting out part of it or renting it out at certain times of the year, you may also be able to cram down the mortgage. 

To determine whether a cram down is appropriate in your particular case, you will need to speak with an experienced bankruptcy lawyer. Your attorney can assist you in determining whether the cram down laws will apply for your home and, if so, how to go about arranging the cram down procedure and having the balance on the mortgage reduced.