Posted on: 29th Nov, 2009 10:27 am
My equity line of credit has matured I only have 75% of the money owed. what will happen and is there something I can do I can pay off the balance in 3 weeks.
It is tough to say without reading the terms of your loan. It is possible that they could foreclose. Have you been making payments?
HOME EQUITY INFORMATION
HOME EQUITY INFORMATION
yes I have been and am current. But I am not sure what information do you need for me to get better information.
My balance was 10000 I have 7000
So you owe $3k. Call them and ask for an extension or to be put on a payment plan.
if I am put on a payment plan what should I ask for so they will not forclose anyway.
what about the rest of your loan - is this the only debt you have on the house?
if you have another mortgage and you are paying that off fine, then i don't see why they'd want to foreclose if they have a reasonable prospect of you paying back the money.
couldn't you just refinance the 3k outstanding into your fixed mortgage?
if you have another mortgage and you are paying that off fine, then i don't see why they'd want to foreclose if they have a reasonable prospect of you paying back the money.
couldn't you just refinance the 3k outstanding into your fixed mortgage?