loan to avoid foreclosure
Can they foreclose if I only default on my home equity loan, not my first or second mortgage?
I’m being forced to relocate for my job, and I’m trying to avoid foreclosure or a short sale- I’d like to try to keep current on as much of my debt as possible. My home is currently worth less than half of what I owe (in florida). I do not qualify for refinancing because ratio of the value of the house to loan value. The notes are held by Freddie Mac. I am hoping that they will write a portion off, with the understanding that I’m still paying on a value far higher than I could sell for. (Mortgages worth $17K, HELOC of $45K, current home resale value ~$110K. I just want to be able to rent it and keep my head above water. Help.
Yes they can. Home equity loans, home equity lines of credit are all mortgages. As such, they can foreclose if you don’t pay.
Good luck.
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Early and often: a new program has helped 5,700 families avoid foreclosure through early intervention. It is part of an industrywide trend to contact delinquent … An article from: Mortgage Banking $9.95 This digital document is an article from Mortgage Banking, published by Thomson Gale on August 1, 2007. The length of the article is 3469 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Early and o… |
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Plan to offer foreclosure counseling.(Business)(The governor is trying to avoid a major loan default problem in Oregon): An article from: The Register-Guard (Eugene, OR) $9.95 This digital document is an article from The Register-Guard (Eugene, OR), published by Thomson Gale on September 15, 2007. The length of the article is 560 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation Details… |
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