I have a house in short sale status in AZ. I live in California. My first is countrywide/Bofa for $220,000 and my second is Bofa home equity line for $69,000. House is now worth $115,000. Im upside down.
Second called and told me I would be liable for the debt and they would negotiate to 45% of the debt.
I am a British citzen and am considering moving back to the UK shortly to work.
I have not paid the note for 9 months. What is the best action to take, foreclose, deed in lue or short sale. Can the Heloc be wiped out?
Thanks

