It works? Using the company to settle disputes over the negotiations for the sale of a HELOC?

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Hello there. I want out of my FL. It’s a 155k house. I was taken back to the 07th 60K HELOC Now I’m running out of sale of the property. The main thing OK lender, but a second mortgage (HELOC) do not want to live after a series of negotiations. They want the entire amount as an unsecured loan. The estate agent is not very useful, wants to take me much to go through a short sale. I want to keep the negotiations laenuandja.Ma m ‘almost to hire a law firm well known, offering negotiations to resolve the bank. They charge a lump sum of about $ 3K. They said they could save me 3k 60K. This is reasonable, but the lawyer did not give me the guarantee provided tulemusi.Kas you think it worth it? My only chance to be close, because I do not like it I will have to cope with a HELOC.
Can a collection agency has the right to close, or is it found an unsecured debt? We are facing foreclosure the first mortgage. We were underwater for about $ 75k with the first mortgage. If the house is closed, there will be nothing left of the second mortgage on the house. House values have fallen by nearly $ 200K. The man just lost his job after 10 years. A son is handicapped and has recently discovered a second brain injury (may require surgery). I managed to get all their medical appointments (4x per week). We have considered bankruptcy. We do not have any assets, except for 401k and a car 12 years. I live in FL. Can a collection agency garnish wages if my husband found a new job? Is bankruptcy discharge that debt?

  1. Reply
    February 20, 2011 at 9:54 pm

    i suggest u
    i hope it will be helpful in resolving your problem keep using

  2. Reply
    February 20, 2011 at 10:20 pm

    You’re wasting another $ 3,000. The reason they will not give you any sort of guarantee is that they cannot sue your HELOC lender to cause any sort of settlement. Your HELOC loan contract is legal and binding, and the lender involved has every right to refuse to take less than is owed. There is nothing those attorneys can do to force that to change. They can only do what YOU have done, and that is to attempt to negotiate a settlement. There is no litigation involved, since they have no legal basis for suit. Understand, as well, that your HELOC IS a secured loan. Your house is the collateral.

  3. Reply
    February 20, 2011 at 11:04 pm

    Do a forensic audit on the loan and make the people that own the HELOC back off.

    If you are having a difficult time because of the debt on your home, you might want to consider a forensic audit of your loan process.

    Lenders have many requirements that they are supposed to follow when making a loan and in the last few years have not fulfilled their requirements.

    Nearly all loans that were – ARM’s, Stated Income, Investor, No Doc, had a prepayment penalty, were made to someone speaking a foreign language – were made out of compliance. The audit will show what the lender has done in violation of the lending requirements.

    You use their violations to give yourself a position of strength in dealing with them, instead of being under their thumb begging for help.

    People can use this information to force a lender to reduce the principal amount, interest rate, the payment, or to complete a short sale.

    I can send you an example of the 67 page report you receive after a forensic audit is completed. You will be amazed at the violations that are common in these audits.

    If you’d like more information email me at

    Good luck!

  4. Reply
    February 20, 2011 at 11:37 pm

    that is what a foreclosure is.

  5. Reply
    February 21, 2011 at 12:11 am

    A home equity loan is junior to your first mortgage and will be eliminated when the first mortgage is foreclosed upon. Your second mortgagee would have to payoff the first mortgage to retain a security position. If your second mortgage is charged off, they have no right to try and collect.


  6. Reply
    February 21, 2011 at 12:50 am

    you can find it in tools on this website

  7. Reply
    Expert Realtor
    February 21, 2011 at 12:53 am

    Your home equity loan is NOT unsecured, it is secured…if you do a title search you will find that there is a lien against the home.

    Any lien can start the foreclosure process if you are in default, a home equity lien gets paid second, but they can still force the sale of the property.

    A bankruptcy can dismiss the past due amounts and you can reaffirm your mortgage, which is like your payments restarting, however, a bankruptcy court will not approve such an arrangment unless you have a way to pay it back.

  8. Reply
    Beverly S
    February 21, 2011 at 1:04 am

    Chpt 7 discharges all debt. House will be foreclosed but you won’t owe for it.

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