Can a HELOC be modified??

[charmd]

We finally got a loan modification for our first mortgage.

Citibank has our HELOC and I was told to submit paperwork requesting a modification, but when I called today to follow up a rep at Citi told me they don't modify a HELOC.

We could not strip unfortunately, but were able to strip a 3rd that was tied to a line of credit for a business which went under.

Has anyone had luck modifying a HELOC or offering a reduced pay-off?

Any ideas would be helpful. If you need more info please let me know-

Thanks for any thoughts.

[newbie2]

Since you are currently in a Chapter 13 plan, they may not be willing to work with you on it. Modifications generally for 2nd liens are tough to get. If you couldn't "strip" the 2nd at the start of your plan then they really have no reason to work with you IN your plan. Generally I have been hearing about a reduced payoff to get the release of lien post-discharge and not pre-discharge. Note: Citibank doesn't have to do this either.

[charmd]

Thanks Newbie2 for the information.
My husband and I will have to decide if it is worth keeping the house even though we got the first modified. The HELOC comes due in 2015 the same year we are done with the BK but I don't know if Citibank will want to work with us then or not and I hate to pay on the loans when we might not keep the home.

Do you know if we accept the first modification and then later decide to include the home in the BK can that be done? If you modify the first does that make it where you can not later put it in the BK? We are underwater on the HELOC but not enough to have it "strip".
I have also called our attorney since he gave me the original letters to speak with the lenders, but have not heard back yet.

Thanks again