Posted on: 02nd Aug, 2013 07:40 pm
My first mortgage waived my home equity from the other bank. But now I am facing foreclosure and I have an offer on my house for more money. Does the bank on equity loan will demand to pay them back?
Hi Lits,
It is surprising that your first mortgage waived off the home equity loan from some other bank. You should clarify with the lender whether or not really such a thing has happened. If you have a written letter from the lender that your home equity loan has been waived off, then the bank may not demand their money from you.
Thanks
It is surprising that your first mortgage waived off the home equity loan from some other bank. You should clarify with the lender whether or not really such a thing has happened. If you have a written letter from the lender that your home equity loan has been waived off, then the bank may not demand their money from you.
Thanks
Hi Lits!
Welcome to the forums!
I agree with what James has said. You need to contact the bank and check out if they have really forgiven or waived off the dues. If yes, then you should not worry about the payments.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
I agree with what James has said. You need to contact the bank and check out if they have really forgiven or waived off the dues. If yes, then you should not worry about the payments.
Feel free to ask if you've further queries.
Sussane