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  1. #1
    Join Date
    Sep 2009
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    1

    Angry Home Equity Line Am I Liable if I Foreclose

    My question involves a foreclosure in the State of: California
    I have a 2nd home equity line for $79K and I want to know if I am liable or can Bank of America come after me if my property forecloses? My first loan is with One West Bank for $244k....the property is worth about 150K but I am afraid I'll have to get stuck with a home equity line for $79K? if I default or go into foreclosure

  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
    Posts
    98,846

    Default Re: Home Equity Line Am I Liable if I Foreclose

    Probably so, but we don't have the full facts. It seems reasonable to assume under the limited facts you've given that the second mortgage was not taken out to help finance the original purchase.

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