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can an home equity lender foreclose?

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obrienhome2000 Joined: 20 May 2010 Posts: 1 1.33 Dollars($)	Posted: Thu May 20, 2010 10:21 pm    Post subject: can an home equity lender foreclose? Like 0 Dislike 0 can a lender of a home equity loan for 200,000.00 , (the houses worth has dropped approx.60K since initial purchase in 2000) foreclose on my house and take it away if the primary mortgage lenders payments are current? A bankruptcy is a high possibility!!! AZ RESIDENT
Niicss Joined: 03 Oct 2005 Posts: 4828 Location: New Jersey 507.92 Dollars($)	Posted: Fri May 21, 2010 4:18 am    Post subject: Like 0 Dislike 0 The lender who owns the home equity loan has the rights to recover his dues. He can foreclose the property though your first loan is current. However, after he forecloses the property, the second lender will have to satisfy the dues of the first lender. _________________ Good is the Enemy of Great.
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rita2 Joined: 23 Apr 2010 Posts: 286 51.03 Dollars($)	Posted: Fri May 21, 2010 12:14 pm    Post subject: Like 0 Dislike 0 Hi Obrien, Even if you are current in your primary mortgage the lender who owns the home equity can foreclose to recover his dues. It is better that you speak with both the lenders and try to settle the matter. Consult with a good attorney to get detailed information. Hope this will help.

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