Tag Archives: 2nd loan
What is the difference between a HELOC and Purchase Money 2nd Loan?
Today we would like to help explain the difference between a HELOC and a purchase money 2nd loan as it related to bankruptcy. A HELOC or Home Equity Line of Credit, is a line of credit, similar to a credit card, that was given to you through the equity you have (or had in the Continue Reading
Removing a 2nd Loan or HELOC from Your Home Loan with a Bankruptcy
Under a Chapter 13 bankruptcy filing, if a debtor has more than one (1) mortgage on the home (or a 1st and 2nd loan), we may be able to discharge the second mortgage (or home equity line of credit) if the home is the primary residence and the first mortgage balance equals or exceeds the Continue Reading
Bankruptcy and Foreclosure
Foreclosure is a very difficult process to go through especially if the home you are in is a place where you have many memories with your family. When you need more time in your home to prepare to make a change and let your home go, Bankruptcy Law Professionals can help you get that extra Continue Reading