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-   -   Is there home equity loan forgiveness? (https://www.askmehelpdesk.com/showthread.php?t=762834)

  • Aug 15, 2013, 09:08 PM
    BROOKLYNBABE779
    Is there home equity loan forgiveness?
    Is there home equity loan forgiveness filed chapter 7 but they say home equity banker can forclose?
  • Aug 16, 2013, 04:07 AM
    joypulv
    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.)
  • Aug 16, 2013, 06:37 AM
    AK lawyer
    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.
  • Aug 16, 2013, 08:42 AM
    Fr_Chuck
    It is a secured debt, as such, they have a right to the property that secures it.
  • Aug 16, 2013, 08:45 AM
    AK lawyer
    On the other hand, they cannot foreclose until the bankruptcy is over (or they obtain relief from the automatic stay).

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