house cross-collateralized?

[brokeNconfused]

My home loan is through the same credit union i have a credit card and my SUV thought I gave back the SUV and stopped paying cards.

The home loan is technacally a seperate entity within the back IE uses different than the credit union. I set up payment though coupons rather than my original taking money from my account. Will this allow me to avoid them putting the money towards my late payments on card and SUV?

[emoney]

I hate to say this but you did something stupid. Now we all have done stupid things too. Mine were with 000 after them.
Never let a car go back is the first rule that you broke and here is why. They will sell the car wholesale and come after you for the difference. They have no incentive to get the best price for the car, but you do. So next time sell it yourself and save yourself money.
As for your CC and your home, it depends on the loan documents and the state you live in if they can add your car debt and the CC account to your house loan. Using coupons versus an automatic debit does not change anything.
If you try this next time move your house loan to another lender and there will be no question.
From here you need the advice of an attorney in your state.
regards,
emoney

[brokeNconfused]

my attorney told me to give back the car and voluntarily have it reposessed. Still not sure on the house thing. I could not sell the car because i was upside down in it. I guess whatever they want to come back after me for ill put in the bankruptsy

[southernbelle]

I'm not sure what your loan documents say, but I have a similar situation. I have a 2nd mortgage through the same bank as a credit card and an unsecured signature loan. About 2 months ago, I decided to stop paying unsecureds so that I couldn't be accused of preferential payments. Lo and behold, the bank called and informed me that my house was about a week away from going into special collections then foreclosure since all three loans are considered secured by my house.

Read your loan documents, in my case I did what emoney calls a "stupid" thing. I didn't realize when I signed that all three loans could be packaged up and cause me to lose my house. The end result, I ended up haggling with them and sending them money I owed for the back payments and hope the trustee will see that they are secured as well. If not, maybe I'll have to move, but what else could I do?

[brokeNconfused]

wow.. I looked into it with my attorney and in my state a home loan cant be cross-collateralized. If they really want to lose the hosue to they can mess with me. I have no equity yet and so wont be worth it. I make checks out to a different name than my credit union although they are a branch of same.