reaffirming equity loan from same bank as cc debt

[Moneypenny]

Hi there,

can BoA strike back at me through the equity loans i have with them?

i am thinking of doing a ch7, and reaffirming my first mortgage, as well as my 2 home equity loans both of which are from BoA. I plan to default on a heap of credit card debt that is also BoA. I have moved my checking account out of BoA of course, but my question is can they do anything to me on the equity loans? like, can they raise the interest rates on them to get back at me, etc., like the way they jacked up my credit card rates to 24% even though i paid on time for 18 years? That's how they treated me when i was good-- what are they going to do when i am bad?

with dropping property values, i dont think i could re-secure those equity loans with another bank. but, i do want to keep the house even though it is worth less than i owe, because it would be too much of a trauma for us.

let me know what you might know about this....

Mr. moneypenny

[eddiep]

I have a first second and third mortgage and two cc with BoA. I am keeping the house and all the mortgages I have not paid on the cc for seven months. I have been successful in getting all of these mortgages modified and never one peep about the credit card balances throughout this process. I do not believe they will or can do anything, these departments seem to be very separate.

[LSUTiger32]

Are you sure you have to keep the second and additional mortgages? I know some in some cases, you can have those stripped off and be left with just your original loan. Surely if their contract with you gives them the ability to raise the rates and you just stuck them with a bunch of debt they are likely to enforce said contracts.

[OhioFiler]

Are you sure you have to keep the second and additional mortgages? I know some in some cases, you can have those stripped off and be left with just your original loan. Surely if their contract with you gives them the ability to raise the rates and you just stuck them with a bunch of debt they are likely to enforce said contracts.

Lien stripping is only available in a Chapter 13.

[Moneypenny]

I wonder if anyone knows what are the contracts in equity loans, do they contain clauses that allow them to raise the rates, etc. like credit cards. I am sure my contract (who knows where i put it, if anywhere) is a typical standard contract like any other that BoA issues.

[OhioFiler]

I wonder if anyone knows what are the contracts in equity loans, do they contain clauses that allow them to raise the rates, etc. like credit cards. I am sure my contract (who knows where i put it, if anywhere) is a typical standard contract like any other that BoA issues.

Call BofA and ask them to send you a copy of your HELOC agreement.

[eddiep]

Are you sure you have to keep the second and additional mortgages? I know some in some cases, you can have those stripped off and be left with just your original loan. Surely if their contract with you gives them the ability to raise the rates and you just stuck them with a bunch of debt they are likely to enforce said contracts.

Im not sure if you were talking to me or the OP about stripping the second and third...

I do not owe more than my house is worth even with the three loans, so they are all secured and can not be stripped.