what happens with home equity loans and lines of credit after your house is foreclosed on?
Tags:bankruptcy, equity line of credit, home equity line, home equity line of credit,
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My residence was auctioned off upon Aug 2, 2010. But we have a home equity line of credit which we still owe on, though right away it is unsecured since a residence has been foreclosed on. Can we record failure upon which dept?
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The lenders will ask you to pay them directly as an unsecured loan.
Yes, the debt can be included in bankruptcy.