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We sold a property in 2015 that had a Heloc on it.
We sold a property in 2015 that had a Heloc on it. Apparently the buyers lender did not discover this in the vetting process, though we thought the 2nd was paid off at closing. Now the Heloc lender is… read more
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We had a property in Arizona that was foreclosed on that had
We had a property in Arizona that was foreclosed on that had a 2nd mortgage (or Heloc/ballon loan). We now live in Colorado. Can the 2nd mortgage company sue us and garnish our wages without notice?… read more
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North Carolina-Good evening. Right to the chase. 2000 purchase land with trailer cash 2001-Husband/wife (grantors) create joint tenant w/right of survivorship to wife and another person. 2005-Husband … read more
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Can you please tell me how sales proceeds from an REO single
Can you please tell me how sales proceeds from an REO single family home sales are legally required to be applied in California and in what order each is paid. Please address 1st mortgage balance, non… read more
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I have a heloc on a property that was my main residence located
I have a heloc on a property that was my main residence located in NM. I currently reside in NC. I am getting ready to go through foreclosure on the property. The senior mortgage and heloc are owned a… read more
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I have a question related to HELOC. My house went on foreclosure
I have a question related to HELOC. My house went on foreclosure last year and I had two loans on this house. In fact the HELOC should have been part of the original loan and fradulently created by th… read more
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Wehave foreclosure date on 5/12/2012, and I would like to
Hello, Wehave foreclosure date on 5/12/2012, and I would like to ask you, if we go through that process, can we expect by the law of Washington state, that our two mortgages, which are attached to the… read more
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I filed for BK 13 on 12/23/2009 and I am paying 100%. I have
I filed for BK 13 on 12/23/2009 and I am paying 100%. I have an original Mortgage which I am paying on time with a balance of 189,000. I have 1 HELOC paying interest only @ 3.+% and a second HELOC pay… read more
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I have a first mortgage of 483,000 and a HELOC of 164000.
I have a first mortgage of 483,000 and a HELOC of 164000. Our home is now worth 300000 (give or take). We are current as of now but, cannot continue. We need to know if in the stat of Arizona a defici… read more
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I own a primary residence since 2005. The principal loan $150
I own a primary residence since 2005. The principal loan $150 grand is only fixed interest, for 5 years, and bec. of the decline of the libor, monthl payments improved to less than 3% interest. The se… read more
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I live in Hawaii. My father took out a reverse mortgage 4 years
I live in Hawaii. My father took out a reverse mortgage 4 years ago. He died last year (he was in his 80s) and now we received a “notice of sale” on our property for March 14 from a major banking inst… read more
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We are now two months behind on our mortgage and 30 days behind
We are now two months behind on our mortgage and 30 days behind on our HELOC, and we know we cannot afford to keep our house or make up these payments, or come current. We have had the house on the ma… read more
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I lost my job a year &1/2 ago and got my s.s. disability about
I lost my job a year &1/2 ago and got my s.s. disability about 6 mos ago. My wife works but obviously have had a decrease in income. We have a 1st & 2nd on the house we,ve been able to stay current on… read more
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Is it better to let your property that has a heloc loan go
Is it better to let your property that has a heloc loan go into foreclosure or better to do a short sale? In foreclosure, due to the non-deficiency laws in the State of AZ, are both loans coveredinthe… read more
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We had a property in Arizona that the first mortgage was foreclosed
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I have a couple rental properties, one of which is now "upside down", and which I've stopped making payments on (it was an option ARM, and I was making minimum pmts anyway, thus owing more each month)… read more
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Arizona- HELOC seems to be both purchase money and NPM
I live in AZ and moving towards foreclosure. I purchased my $300K primary home, with less than an acre, using an 80/20 loan. My purchase was $240K ARM and $60K HELOC. Months after the purchase, I took… read more
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Our home in Utah has been foreclosed on. We bought it intially
Our home in Utah has been foreclosed on. We bought it intially as owner occupied. There is a first mortage of $350,000, and a second which is a HELOC of $87,000. The HELOC was never drawn on after the… read more
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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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Meet the Experts:

Barrister

Barrister

Lawyer

44,531 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

8,377 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

8,253 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,208 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

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5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,998 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

P. Simmons

P. Simmons

Lawyer

3,572 satisfied customers

12+ yrs. of experience including real estate law.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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