Loans, Debt & Credit - View Single Post - Help! Question about attorney's advice about loan modification process

brokemama · 10-12-2009, 10:17 AM

Yes, I thought so, Aurora. Same here; I never stopped paying on the first even before it was modified, but used funds mostly from the HELOC. I am debating stopping paying them this month. It's 0% interest for 2 years which will revert next year to prime, but there is no equity in that lien whatsoever. I too consider it an unsecured debt and want to either settle or have it extinguished, just not sure which route to take at this point.

10-12-2009, 10:17 AM	#6 (permalink)
brokemama Senior Member Join Date: Nov 2008 Posts: 223 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Help! Question about attorney's advice about loan modification process Yes, I thought so, Aurora. Same here; I never stopped paying on the first even before it was modified, but used funds mostly from the HELOC. I am debating stopping paying them this month. It's 0% interest for 2 years which will revert next year to prime, but there is no equity in that lien whatsoever. I too consider it an unsecured debt and want to either settle or have it extinguished, just not sure which route to take at this point.