Take A Guess- Odds Of HELOC Suing??

[ryan]

Just sitting here reviewing my 'fine and dandy' financial status. Have FC ongoing and also have a $30K HELOC in default. When FC sale occurs there will be nothing left to pay the HELOC....so, what are odds HELOC will sue?

Anyone know how common that is? (it is BofA btw) I am in a recourse state if that makes any difference.

[seFlaDude]

I was foreclosed on and my second mortgage did sue me!

[catleg]

I think that because mortgage paper has such a bad track record of record keeping, they might sue just to reduce it to judgment, then possibly either collect on it or sell it. A judgment makes it a secured debt again based on any property you subsequently acquire.

But this is a wild a** guess on my part. It could be insured, it could be owned by the Federal Reserve, who knows?