Is there home equity loan forgiveness filed chapter 7 but they say home equity banker can forclose?
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Is there home equity loan forgiveness filed chapter 7 but they say home equity banker can forclose?
When did you take out the loan and when did you file Ch 7?
('Forgiveness?' You don't just borrow money and then apply for a loophole.)
In general, a home equity loan lender is secured by a mortgage.
So, yes, you probably can be discharged from the debt, but the lender can foreclose on the home.
It is a secured debt, as such, they have a right to the property that secures it.
On the other hand, they cannot foreclose until the bankruptcy is over (or they obtain relief from the automatic stay).
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