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HELOC Debt Settlement

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House being sold at a foreclosure auction. Axsmith Law Blog

Underwater mortgages are having advantages for HELOC Debt Settlement.  If you owe more on your first mortgage than what the house is worth, there is no leftover value to pay the Home Equity Line of Credit (HELOC), or secondary loan any money at all.

Given that there is no way to get paid if the house were sold, you have unexpected bargaining power to negotiate for a HELOC debt settlement.  The holder of the HELOC loan stands to get nothing if you are foreclosed on, and that leads to willingness to negotiate.  Some money is better than none, so a lesser payment will seem attractive to the HELOC lender.

It is also possible to get a loan modification for a second mortgage if the circumstances are right.

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The possibility of foreclosure, complications from HELOC payments, and other credit issues requires legal assistance. Axsmith Law LLC offer debt relief, debt settlement, bankruptcy and other help to its clients.

Foreclosures are still happening all around us, and good representation can mean the difference between a successful foreclosure mediation or losing your home.  Hire a law firm with a lot of experience in foreclosure defense, debt relief, debt settlement and defending credit card debt.  Phone Axsmith Law LLC at (202) 285-5415.

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Debt Settlement, Foreclosure Defense, Debt Relief – Axsmith Law

 

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