Line Of Credit...What happens to it?

[bayareamommy]

Our 1st is with B of A. Our 2nd is with SunTrust and it is a line of credit.

What happens to the 2nd loan if B of A approves a modification?

Do we contact Suntrust (in which we have not payed them for about 9 months because of financial hardship and because B of A is was not willing to work with us before...just know under the Home Affordable Program).

[Evan Bedard]

Hi bayareamommy,

Our 1st is with B of A. Our 2nd is with SunTrust and it is a line of credit.

What happens to the 2nd loan if B of A approves a modification?

Do we contact Suntrust (in which we have not payed them for about 9 months because of financial hardship and because B of A is was not willing to work with us before...just know under the Home Affordable Program).

Nothing will happen to your 2nd mortgage is your first is modified. You must contact suntrust and go through the process with them...

[bayareamommy]

Originally Posted by Evan Bedard

Hi bayareamommy,



Nothing will happen to your 2nd mortgage is your first is modified. You must contact suntrust and go through the process with them...

Oh great...there goes that deal. SunTrust is a real pain in the booty to deal with, worse than B of A (in our situation).

I really, really, really daubt that we are going to keep the home now.
It's bad enough that we are $200k upside down on our 1st loan. Let alone having to pay for a 2nd loan that is rubish too.

That sucks!