Posted on: 27th Mar, 2009 02:33 pm
I have 3 home equlity loans on my house.Is there a way to get out of thiese loans?
Hi mztransportation!
Welcome to forums!
You've to pay off the loans in order of get out of them. However, I guess, you're facing hardship in paying off the mortgage dues. In that case, you should inform the lender about your hardship. There are chances that he may offer you an alternative plan to pay off the dues.
If you are delinquent on your mortgage payments and want to sell off the property, then you can apply for a short sale or a deed in lieu. This will help you in selling off the property. However, your credit will be affected due to this. Moreover, it is the discretion of the lender whether he would accept your request or not.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
You've to pay off the loans in order of get out of them. However, I guess, you're facing hardship in paying off the mortgage dues. In that case, you should inform the lender about your hardship. There are chances that he may offer you an alternative plan to pay off the dues.
If you are delinquent on your mortgage payments and want to sell off the property, then you can apply for a short sale or a deed in lieu. This will help you in selling off the property. However, your credit will be affected due to this. Moreover, it is the discretion of the lender whether he would accept your request or not.
Feel free to ask if you have further queries.
Sussane
There is no way in getting out of your loans instead you must have to apply on debt and credit consolidation loans.
"get out of"????????
just stop paying - they'll foreclose on you and you won't ever have to make payments on the loans again. pretty good solution, eh?
just stop paying - they'll foreclose on you and you won't ever have to make payments on the loans again. pretty good solution, eh?
