We really want to get out of our house. We are trying to do a restructure with our 1st lender, but they are only offering a $150 per month reduction, which just isn't very helpful. We want to just walk away from this place, but we owe $120K on our HELOC and are thinking that they will come after us. We are upside-down at least $100K, so we know that the HELOC won't get much, if anything, after the foreclosure. Haven't paid either loan in 6 months.
If you have altered your HELOC debt, can you please share your story with me? I am waiting for an attorney to call me back. What did YOU do to alter your HELOC? Did you call them? Write them? Use an attorney? How big of a reduction did you get and what were the repayment terms?
Alternately, anyone out there in this situation that bailed and never got a deficiency judgement from the HELOC at all?
We're in CA.
Thanks!
If you have altered your HELOC debt, can you please share your story with me? I am waiting for an attorney to call me back. What did YOU do to alter your HELOC? Did you call them? Write them? Use an attorney? How big of a reduction did you get and what were the repayment terms?
Alternately, anyone out there in this situation that bailed and never got a deficiency judgement from the HELOC at all?
We're in CA.
Thanks!