Commonly the bank with the several HELOCs (diverse from the original home loan) foreclose?

The initial mortgage lender may well not care so you can negotiate or personalize the loan

qc financial payday loans

I obtained a section 7 discharge back into 2005. I’d my personal first-mortgage as well as 2 HELOCs, or domestic security personal lines of credit, within the personal bankruptcy, never ever reaffirmed, however, went on to reside in the house and you may pay all three mortgages. The fresh new balloon payments on HELOCs is owed next year. The worth of our home is pretty a bit less than the entire value of the new mortgage loans. I am not capable afford the balloon mortgages neither manage I want to re-finance all of them regardless of if I’m able to since residence is when you look at the terrible profile and needs a comprehensive number out of really works complete. Continue reading