Posts Tagged ‘bankruptcy kit’

What happens if I do not pay back my home equity line of credit?

Monday, November 9th, 2009

I live in Californing where I have a 1st mortgage, and a home equity line of credit that was taken out years after my 1st mortgage. Can I file chapter 7 and get out from under the debt of my HELOC? Or can they forclose and I have no way of stopping them? I used the HELOC to purchase a businesses that is failing and I can only afford to pay the 1st mortgage.

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