Chapt 7 and HELOC loans?

[april_4_us]

If you file chapter 7 do you have to reafirm on the heloc? I don't want to loose my home but I am already behind on the Heloc but current with the first mortgage. I got a letter from their laywers office demanding full payment. Help !!
april

[BKParalegal]

First off, the word is "lose" not "loose", second it is has been discussed ad nauseum in many threads, you cannot discharge a second mortgage or HELOC in a chapter 7, unless of course you are going to surrender the house and therefore the first and second would be discharged.

[april_4_us]

sorry I can't spell tonight. Thats what I thought but just wanted to make for sure. Thanks for the information.
april

[b_girl]

Don't worry about your spelling, april...I think we all knew what you meant. As for your question, I also have a HELOC on my home and while I hated to, I had to reaffirm it along with my mortgage. Think of the HELOC as a second mortgage...the bank has a lien on your home now because of it and any loan which has a lien against property either has to be reaffirmed (which means you will need to be current) or you have to return the property.