Go Back   The Finance Forums > Finance forums > Mortgages

Mortgages Mortgages lending and lendors - your mortgage experiences, questions, and discussion.

Thread Tools
Old 10-06-2011, 04:42 PM
neal93 neal93 is offline
Junior Member
Join Date: Oct 2011
Posts: 2
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?
Reply With Quote

Old Sponsors
Old 10-07-2011, 09:36 AM
littleroc littleroc is offline
Senior Member
Join Date: Mar 2011
Location: Minnesota
Posts: 334
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?
Reply With Quote


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

» Boards

All times are GMT -4. The time now is 12:57 PM.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.