close
    Have home equity loan.house is going into foreclose ,what happen to the equity loan.do i still pay it ?

    0  Views: 200 Answers: 1 Posted: 13 years ago

    1 Answer

    You do not say where you live and things change from country to country but let me put forward a scenario as I under stand from you question.

    You are buying a home on some form of mortgage and you had equity in the home greater than the amount outstanding on the loan so you took out a equity loan and received cash from the lender.

    You now find you can`t pay the mortgage so the property is to be taken by the lender. If this is the case you are responsible for all monies outstanding that is the original loan plus the equity loan.


    Top contributors in Uncategorized category

     
    ROMOS
    Answers: 18061 / Questions: 154
    Karma: 1102K
     
    Colleen
    Answers: 47269 / Questions: 115
    Karma: 953K
     
    country bumpkin
    Answers: 11322 / Questions: 160
    Karma: 838K
     
    Benthere
    Answers: 2392 / Questions: 30
    Karma: 760K
    > Top contributors chart

    Unanswered Questions

    inlachong quanghuy
    Answers: 0 Views: 5 Rating: 0
    taixiumd5la1
    Answers: 0 Views: 5 Rating: 0
    vu88com
    Answers: 0 Views: 4 Rating: 0
    nhaxethang
    Answers: 0 Views: 7 Rating: 0
    Xổ Số
    Answers: 0 Views: 5 Rating: 0
    Tìm Bank VN
    Answers: 0 Views: 4 Rating: 0
    Tìm Bank VN
    Answers: 0 Views: 5 Rating: 0
    kbbetbrcom
    Answers: 0 Views: 7 Rating: 0
    > More questions...
    495081
    questions
    730801
    answers
    830596
    users