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Supposedly, my first and second loan were approved for a Deed in Lieu of Foreclosure in Las Vegas, Nevada and after everything went through ok, I run my credit and found out that I still have the HELOC account open. I called my lender and they say that I still have to pay the 2nd.
I need help what should I do in this situation? I can’t pay off this debt and I have tried so hard to pay off all my credit cards and now I face this new debt.
Who do I need to talk to? Do I need to go through the same process like I did with my first loan? Then why did my lender said that they were going to include both loans and I the end I still have to pay?
Last edited by mohr; 11-13-2008 at 10:20 AM..
Reason: The Deed in Lieu was approved in Nevada
You signed for it, you pay it. You're not "facing new debt", it's debt YOU CHOSE to take on. Sell whatever you bought with the money you took out of the heloc and start paying it back.
You signed for it, you pay it. You're not "facing new debt", it's debt YOU CHOSE to take on. Sell whatever you bought with the money you took out of the heloc and start paying it back.
Wow.....we can't assume what the o/p used the heloc for..perhaps she/he had huge medical bills..not everyone uses it as an ATM
You signed for it, you pay it. You're not "facing new debt", it's debt YOU CHOSE to take on. Sell whatever you bought with the money you took out of the heloc and start paying it back.
Very confused here. Did this HELOC suddenly jump out of a bush? I mean good job paying off the credit cards but uh how were you not aware that you'd have to pay the other debts as well. Your lender for the HELOC wasn't going to stand by and pat you on the back for paying on your credit cards while they weren't getting paid. That's like calling my mortgage company and saying...."hey yall....I'm going to pay off my cars. Would yall mind if I just didn't pay my mortgage for like a year or something?"
~~~~~~SIGH~~~~~~~ of course if that is the case...very dumb
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