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what happens to a heloc dischrged in a chapter 7 when you sell the house to cover the 1st mortgage with no equity left

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nailtek59 Joined: 06 Jun 2011 Posts: 2 1.49 Dollars($)	Posted: Mon Jun 06, 2011 6:22 pm    Post subject: what happens to a heloc dischrged in a chapter 7 when you se Like 0 Dislike 0 disharged out of chapter 7 in 2008. 1si mortgage $150,000 secoond $88000 selling home for 220,000
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Mon Jun 06, 2011 8:15 pm    Post subject: Like 0 Dislike 0 Hi nailtek, If you haven't reaffirmed your second mortgage, you won't be personally liable for paying off the loan anymore. It has been discharged. If there was equity in the property, then the second lender could have claimed it. Thanks

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