I own a house in Florida with a recently modified mortgage with a bank. I also have a heloc but with Chase. I sent in all of my papers to modify my heloc. My house is off in value by almost $200000 (56ooo due to heloc). However I made a payment and set up a trial or I thought I did. When I called back the next month they told me it was charged off? How can this be with no notice? What do I do? Because I have the mortgage modified where I can finally afford (rough year...let go for 7 months and recently found new job..4 kids..and trying to bounce back). I had my car repossesed and Chase wants the diff from what I owe vs what they got in auction plus a lot of credit card debt. My house is underwater but with the mortage set for 5 years I feel that it will bounce back. I want to keep the home and erase the other debt if possible and start over. I have 2 older cars worth not much and would like to keep them. Can the debt inc the heloc be disposed by filing bankruptcy? Any help would be greatly appreciated. Also to note I was never notified of the heloc charge off and when I called Chase I got transferred all over to hear it is with Recovery Department. Is it even worth the hassle to call them or should I sek an attorney to just file?
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home equity line charge off
Hi Tinkerbell,
It is better to take advise from a Real Estate Attorney. However, you can contact the Recovery Department and talk to them about your problem. Tell them that you had applied for a modification. Mention that you even made a payment.
Hope this helps.
Regards,
Aaron