---

Delinqent on HELOC. Can they forclose on my property??

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
picture121 Joined: 21 Sep 2008 Posts: 15 8.62 Dollars($)	Posted: Mon Apr 05, 2010 6:38 pm    Post subject: Delinqent on HELOC. Can they forclose on my property?? Like 0 Dislike 0 Current on my 1st MTG. Unable to pay HELOC. I am now 3mo. behind. Can they forclose on my property? 1st is about 400K. Heloc is 90k Property worth about 480K per Dept. of finance/taxes. Can I seek modificaiton or settlement on the HELOC?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Apr 05, 2010 9:49 pm    Post subject: Like 0 Dislike 0 Hi picture! Welcome to forums! You should contact the second lender and apply for a modification with them. Depending upon your hardship and financial situation, the lender may or may not approve you for a loan modification. If you do not pay the dues, the second lender has the rights to foreclose the property. However, they do not do so as they will have to satisfy the first lender's dues. There are high chances that the lender will be able to charge off the loan. Feel free to ask if you've further queries. Sussane

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0