OK so say that is the case and she cannot file .... how do you think our HELOC situation could impact her work if we address it? I mean, if I decide to pursue modification, which both lenders offer all the time, and the HELOC lender does a title search and sees they are not on the title in any position (which I believe is the case) could they call in the whole loan? If they do, what is the potential impact? This one issue is the key major source of stress in our lives and I need to figure out how to address it. If not bankruptcy, then what do we do? We owe $300,000 altogether but the property is only valued at $140,000.
And by the way, we did not know that the other bank didn't mean to continue to extend credit. It seemed like they should have closed out the HELOC when we refinanced, but they just kept sending us checks, debit cards and letter imploring us to borrow money.
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