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  • Wells Fargo HELOC Settlement Post Chapter 7

    After receiving so much helpful information from contributors to the BK Forums I wanted to share our recent experiences hoping they might help anyone in a similar position.

    I am married, living in Northern California. My wife and I filled Chapter 7 in August 2011 and received a Final...
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  • Does HELOC accrue interest after being discharge in Chapter 7?

    Trying to settle the lein left on my HELOC. The HELOC itself was discharged in chapter 7 but the lein remains.

    When i sent first settlement offer...they sent back a form saying no with a balance much higher than i expected.

    So like my title says...is my HELOC still accuring...
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  • Wow, I just became a HAMP statistic?? Now, what about HELOC

    I'm one of the few. We've been approved for a modification trial period. After two attempts to get a modification which ended in rejection, the third attempt was successful. The first time, we were still current, but the writing was on the wall, so we applied and got rejected because we were not...
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  • No claims filed yet for Mortgage & HELOC...also Discover Card!

    We filed our Chapter 13 on 8/26 and had our 341 meeting on 10/20, our case was confirmed on 10/26. We are on a 100% payback. We received notice that our creditors had until 2/14 to file their claims.

    We surrendered our house with a primary loan and also had a HELOC. The house has yet...
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  • BofA in Calif is foreclosing on first...Is Bof A heloc wiped out?

    My Cal. BofA serviced first mortgage (BAC Home Loans Financing), owned by Freddie Mac, was originated with BofA and is foreclosing. It will be paid in full but the recourse heloc will not to the tune of about $100k. Does the fact that BofA (BAC Home Loans Financing) sold out the heloc and thus merged...
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    Last edited by scotlindoug; 11-16-2010, 11:16 AM.

  • kinraw
    started a topic Car and HELOC from same lender - repo?

    Car and HELOC from same lender - repo?

    I am in the midst of loosing my rental property to a short sale or foreclosure and eventually I will go BK. The home has a 1st and a HELOC. I've stopped paying the 1st but am still paying the HELOC. The main reason i'm still paying the HELOC is that the lender also holds the note to my truck (i have...
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  • golfguy65
    started a topic Heloc

    Heloc

    My wife and I have decided we have no choice but to give up our home. It is currently underwater by $500K +. There are $1.5 million in loans and market value has decreased to less than $1M. There is a HELOC outstanding for $150K. We would like to avoid BK but I am confused about what would happen...
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  • tonto
    started a topic Settling 2nd Mortgage

    Settling 2nd Mortgage

    I am in the process of a chapter 7 bankruptcy. I wanted to inquire about the chances of settling a 2nd mortgage (HELOC) after my debts are discharged.

    The home info is as follows:
    1st Mortgage: $132k, acquired in 2003
    2nd mortgage: $240k, acquired in 2005
    Approximate...
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  • tonto
    started a topic Question: Settling 2nd Mortgage

    Settling 2nd Mortgage

    I am in the process of a chapter 7 bankruptcy. I wanted to inquire about the chances of settling a 2nd mortgage (HELOC) after my debts are discharged.

    The home info is as follows:
    1st Mortgage: $132k, acquired in 2003
    2nd mortgage: $240k, acquired in 2005
    Approximate...
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  • Can I INCuDE my home equity LINE 2nd MORTGAGE IN BK?

    MY HOME IS WORTH $190,000 , I owe $189,000 on the first mortgage and $160,000 on the 2nd mortgage, NOT sure if i do chapt 7 or Chap 13

    ITS NON OWNER occupied and I am current on 1st mortgage, only want to do this because my 2nd mortgage company lied to me about a loan mod, the told me...
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  • doug217
    started a topic Getting Rid of Adjustable Rate Loans

    Getting Rid of Adjustable Rate Loans

    I am 14 months into 5-yr 100% plan to pay off $11k; no late payments. I own 2 rentals plus my primary residence. My primary residence has $0-20k equity and is a 30-yr fixed. Rental (a) is a condo w/ $70k equity and a 20-yr fixed. Rental (b) is a TH w/ 2 mortgages and is upside down by $50k; first...
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  • cadwell
    started a topic debt limits / "unsecured" heloc?

    debt limits / "unsecured" heloc?

    I have a first in the amount of $615,000 and a second / Heloc in the amount of $360,000. The house is currently listed at $599,000 with no activity. I would like to keep my house if at all possible and do a lien strip on the second. Is it possible to do a chapter 13 when the second Heloc is basically...
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  • questionsGA
    started a topic Timing of filing for foreclosure with HELOC

    Timing of filing for foreclosure with HELOC

    Hi. My earlier post was way too long, so here is one of my questions. Appreciate your help. I'm in Georgia.

    We are going to foreclose in about 110 days (will be delinquent in 50 days).

    We have a $51,200 HELOC that was opened last Aug. or Sept. (at that time, we had no...
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  • Medora
    started a topic Unsecured HELOC & Ch. 7

    Unsecured HELOC & Ch. 7

    Hi,
    Our home has a $500K first, and a $157 2nd HELOC, actual value is probably around $450K now. So essentially the 2nd is unsecured. We're planning on filing Chapter 7 in the spring.
    If our loan workout is unsuccessful, we can bring that unsecured HELOC into Ch. 7 with us, right? As long...
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  • PoorGrammyinBK7
    started a topic Account Is Cancelled? (heloc)

    Account Is Cancelled? (heloc)

    Well, today we got a third letter from the bank that is the lender for our HELOC! Two before had said they were part of an "account review" - sent AFTER we filed BK, asking for 2 years of tax returns and a financial statement, etc.

    This one says they received notice of our BK...
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