Help.....I just received a charge off on my home equity line. What does it mean???
Homeowners who purchased a home with 100% or more financing have overall 2 or more loans attached to their property. In the majority of cases, the 2nd loan is typically a home equity. As homeowner defaults, the 1st loan takes the 1st lien position, and the 2nd loan takes the secondary position, and so on. During the subprime crises, most home values in the Inland Empire decreased as much as 55%, making it impossible for the 2nd lien holder … (6 comments)
Help.....I just received a charge off on my home equity line. What does it mean???
Homeowners who purchased a home with 100% or more financing have overall 2 or more loans attached to their property. In the majority of cases, the 2nd loan is typically a home equity. As homeowner defaults, the 1st loan takes the 1st lien position, and the 2nd loan takes the secondary position, and so on. During the subprime crises, most home values in the Inland Empire decreased as much as 55%, making it impossible for the 2nd lien holder … (6 comments)
Help.....I just received a charge off on my home equity line. What does it mean???
Homeowners who purchased a home with 100% or more financing have overall 2 or more loans attached to their property. In the majority of cases, the 2nd loan is typically a home equity. As homeowner defaults, the 1st loan takes the 1st lien position, and the 2nd loan takes the secondary position, and so on. During the subprime crises, most home values in the Inland Empire decreased as much as 55%, making it impossible for the 2nd lien holder … (6 comments)
2nd Mortgage Lien Charged Off in Corona Eastvale CA
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