Heloc & Charge Off

[debt09]

Hello, what happens if your Heloc company tells you if you dont pay within 30 days your Heloc can be charged off? Will they try and go after the attached properties and foreclose just like that? Does anybody know about this? Thank you.

[justbroke]

These days, they are not likely to foreclose on the property, unless there is at least enough equity to get them money. Otherwise, they'd just be stuck with a house, that they may have had to pay the first lienholder some amount for.