Re: Considering Foreclosure due to divorce

Posted by paul on August 20, 2008 at 14:04:10:

In Reply to: Re: Considering Foreclosure due to divorce posted by ppp on August 20, 2008 at 13:22:46:

If the HELOC fails to foreclosure that should be a done deal. As you suggested they have the oppotunity to acquire the property which should be the security for the loan. They are wiped out by the foreclosure UNLESS their loan docs say otherwise for the HELOC.

Still HELOC would have to SUE in court and get a Judgement for a specific amount in CA.

Paul

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