Helix foreclosures

John Richards

LoanSafe Member
Jul 6, 2018
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I have a second mortgage in the form of a HELOC they are threatening to foreclose in a few days and can they kick me out of my house if someone buys the house and at this foreclosure auction
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
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181
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San Diego, California
www.loansreduced.com
Hi John,
Do you have a 1st lien that you are current on?

The 2nd lien will have to pay off the 1st lien or get the 1st lien to agree to foreclose on the home. We have seen that it is very unlikely to occur but many people are starting to get threatened than in the past as homes have gained value. That has made these 2nd lien holders that bought these loans for pennies on the dollar start to salivate at the mouth and want their initial investment back x 1000.

If you are looking for a solution to cure the 2nd lien depending on the status it is in, we may be able to help refinance the debt if you qualify. If you are also able to get the 2nd lien to agree to a lower payoff we can use that. It really all depends on the status of the lien, if it was included in BK, charged off, recently delinquent...etc.

Please feel free to reach out to me directly or let me know you're thinking about. We lend in all 50 states if you are looking to refinance the debt into one new loan. [email protected]
 

Jzone

LoanSafe Member
Jun 20, 2017
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I have a second mortgage in the form of a HELOC they are threatening to foreclose in a few days and can they kick me out of my house if someone buys the house and at this foreclosure auction
In most states, 2nd mortgages CAN, but seldom DO foreclose. Just as Erik explained above.

Why are you late on 2nd mortgage, do you have a current 1st mortgage, and do you want to stay in the house?

Even if they do foreclose, in most states it takes 60 days to a year to legally get you out of the house.