Equity Loan Information
Is a HELOC secured against my personal credit?
I am about to foreclose on an investment property on which I also have a HELOC. Will they be able to go after me personally for the HELOC also? Thank you.
Public Comments
- Yes, I was in the process of purchasing a short sale home that had a heloc and the bank which had the heloc were not releasing the property so it could be sold because they wanted their money, they went after the person and signed an agreement that they will pay XX amount of money after the home was sold. Unfortunately those loans have a multiple personality disorder. They are secured but they are also consumer loans.
