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  #1  
Old 10-06-2011, 04:42 PM
neal93 neal93 is offline
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Join Date: Oct 2011
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Default mortgage plus heloc

I have a 30-year adjustable rate mortgage and now unfortunately have a sizable HELOC. If things continue as they are I may need to dump my house. Its lost about 70-percent of its value. My question(s) concern the HELOC. If I come to terms with the bank on a short-sale, the HELOC will remain, correct? The short-sale only has to do with the payoff of the 30-year mortgage, correct? Will I always be saddled with paying off the HELOC?
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Old 10-07-2011, 09:36 AM
littleroc littleroc is offline
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Location: Minnesota
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Default Re: mortgage plus heloc

Why are you planning on defaulting on the home and heloc? Did you lose your job and cannot pay the bill?
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