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What is possible in todays screwed up lending market changes hourly...certainly it would seem you have options to try...and as your in foreclosure process, something to do ASAP. From what your saying, your house is currently worth at least 180K, has 100K mortgage in default (so your credit is less than pristine)...and you have 15K of other debts. Another option is to look to refinance the first mortgage...maybe eve with the same co that has it...and try for a loan with 25% down...which most lenders still look at favorably. The 180K house should then get about a 135K mortgage...pay off the 100K and leaving you with close to what you wanted...pay off the 15K and you still have some left to make the new payments with. HELOCS would want to have you keep about the same 25% equity, are even looked at more critically now and carry a higher rate than a new primary. Good luck!

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15y ago
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Q: You are currently in foreclosure you owe 100000.00 your equity is about 80000.00 you owe 15000.00 and would like to take a home equity loan for 40000.00 is that possible?
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