Archive | April, 2010

List of Non-Recourse States

Even if your home is sold in foreclosure, you may still be on the hook for the difference between the amount you owe the bank and the amount the property sold for. Years later, the bank may come after your paycheck to recoup there losses. Unless, of course, you live in a non-recourse state. In [...] [...more]

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What Happens to a HELOC in Foreclosure?

Foreclosures seem to be slowing, but the country still isn’t in the clear. If your home is in danger of facing foreclosure becuase of a HELOC in default, it’s important to have some idea of what the bank will do. Here are the five primary ways HELOC foreclosure situations play out: The homeowner is given [...] [...more]

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