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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Short sale receovery for a home equity line of credit Posted by Lisa Elaine on January 04, 2010 at 6:10 AM In Reply to: Short sale receovery for a home equity line of credit posted by Davenport on October 05, 2009 at 1:56 PM : : : Once a short is completed, what are the consequences in CA : for not being able to pay a home equity loan by the same lender. : We were led to believe if the home sold for at least 80% of : the new appraised value, the entire debt would be written off. : We signed an acknowledgment that the debt was collectible but : were told that was merely a formality. Now, B of A's recovery : department is trying to get us to agree to pay back terms on : the remaining balance. Why would they have misled us? : What can they do in CA to collect the debt? Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : : Once a short is completed, what are the consequences in CA : : for not being able to pay a home equity loan by the same lender. : : We were led to believe if the home sold for at least 80% of : : the new appraised value, the entire debt would be written off. : : We signed an acknowledgment that the debt was collectible but : : were told that was merely a formality. Now, B of A's recovery : : department is trying to get us to agree to pay back terms on : : the remaining balance. Why would they have misled us? : : What can they do in CA to collect the debt? [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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