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when happens with a home equity loan after the bankruptcy? Does it get wiped off or does it stay with the property?

by vara7 from Pitman, New Jersey. Jan 14th 2015 Reply


Carlos Figueira (carlosfigueira)
#108 ranked lender in New Jersey - 198 contributions

Did you file a Chapter 13 or Chapter 7?

Jan 14th 2015
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Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

Probably, yes and yes. If the HEL plus the first mortgage are more than the value of the house, the payment obligation on the HEL should be wiped out, but the mortgage portion of the HEL stays with the property, and will have to be dealt with if you sell the property. Ask your attorney, to be sure.

Jan 14th 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,802 contributions

It depends on your equity situation and whether or not you are underwater.. This is something your attorney should be able to help you with.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jan 15th 2015
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