Foreclosure in 85248>Question Details

Adjustergr, Home Buyer in Chandler, AZ

Am I responsible for an equity line on my property in S. Florida when the primary lein holder has completed bankruptcy on my property.

Asked by Adjustergr, Chandler, AZ Mon Feb 25, 2013

The equity line was used to purchase the home. It was not a situation where I pulled the money to go buy items for myself. The 1st and the equity line equal the value of the home. Shouldnt they be going after the 1st to try to get the home sold and get their money that way??

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3
I have seen where the EQUITY lender pulled their LIEN before foreclosure,
then they went after the Homeowner for the full amount.
YES, they can do that.
If the LIEN was still part of the Foreclosure, then it should have been satisfied before the Closing.
You will find out when they contact you.
Maybe you should contact a Florida Attorney; it might be worth a few hundred dollars.
0 votes Thank Flag Link Mon Feb 25, 2013
I must be missing something. You used a home equity loan on the house to buy the same house? How is that possible?
0 votes Thank Flag Link Mon Feb 25, 2013
It would be wise to contact a real estate attorney in Florida where the property ids located.
0 votes Thank Flag Link Mon Feb 25, 2013
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