Forum

Letting a HELOC Go...Collections...Foreclosure...Settlement?

I have a client in CA who has 3 loans on a property:

• 1st GMAC = $364,000
• 2nd GMAC (HELOC) = $91,000
• 3rd Chase (HELOC) = $91,000
  
  
• Total Amount Due = $546,000
• Market Value = $375,000

The client modified the 1st and his payment is now only $1,500/mo.  He can c

Read more…