what happens with home equity loans and lines of credit after your house is foreclosed on?
Saturday, 4. September 2010
My house was auctioned off on August 2, 2010. But I have a home equity line of credit that I still owe on, but now it is unsecured because the house has been foreclosed on. Can I file bankruptcy on that dept?
the tax lady Says:
The lenders will ask you to pay them directly as an unsecured loan.
Yes, the debt can be included in bankruptcy.