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This is actually a question for your attorney but here is a direction.
Ask your attorney if the home equity loan was included in your bankruptcy, did you complete all the payments you agreed to in the bankruptcy. I am guessing that if you filed for BK the bank probably did not let you use any unused portion of the line.
Look into refinancing your home equity line of credit they are usually not fixed and can go up as much as once every 30 days. Right now the projections for the prime rate is to increase as much as 1/2 to 3/4 to 7.25 by the end of this year.
If there is no equity in the home, then the lien is discharged in bankruptcy making it an insecured debt.
What else can I help you with?
Should I file bankrupty or get a home equity loan?
Deciding between filing for bankruptcy or taking out a home equity loan depends on your financial situation. If your debts are overwhelming and you're unable to manage payments, bankruptcy may provide relief and a fresh start. However, if you have equity in your home and can manage additional debt, a home equity loan could help consolidate or pay off debts without the long-term consequences of bankruptcy. It's advisable to consult with a financial advisor or bankruptcy attorney to evaluate your specific circumstances.
Does bankruptcy clear second mortgage loans?
Second mortgages can be discharged only in a Chapter 13 and only if there is no equity in the real estate for the loan to attach to.
How credit union collect bankruptcy loan that discharged?
If a loan from a credit union has been discharged in bankruptcy court, that credit union cannot collect and must write the loan off.
Can you apply for a student loan after a filing for bankruptcy?
Only if the bankruptcy is currently discharged.
Can a home equity loan be used for a downpayment on another home?
A home equity loan is a type of loan in which the borrower uses the equity in their home as collateral. There is no restriction on how we can use the money from Home Equity Loan.
Is a car loan discharged under chapter 7 bankruptcy?
Whether your car loan is discharged by a bankruptcy or not will depend on your state and the equity in your car. Whether the loan will be discharged or not is called an "exemption".
Can you file bankruptcy on a home equity loan and credit cards?
Yes.
Does bankruptcy clear second mortgage loans?
Second mortgages can be discharged only in a Chapter 13 and only if there is no equity in the real estate for the loan to attach to.
How credit union collect bankruptcy loan that discharged?
If a loan from a credit union has been discharged in bankruptcy court, that credit union cannot collect and must write the loan off.
Can you apply for a student loan after a filing for bankruptcy?
Only if the bankruptcy is currently discharged.
Where can one find information on home equity loan bankruptcy?
Information on home equity loan bankruptcy can be found on several websites. BankruptcyHQ, FrugalFruitLand, and HomeEquityAdvisor are all websites that provide information on that topic. Information can also usually be obtained through a free initial consultation with lawyers who specialize in bankruptcy.
Will a car title loan be discharged by filing bankruptcy?
No, only unsecured debt is discharged.
Can a home equity loan be used for a downpayment on another home?
A home equity loan is a type of loan in which the borrower uses the equity in their home as collateral. There is no restriction on how we can use the money from Home Equity Loan.
Paying back a discharged loan after chapter 7 bankruptcy?
There is no reason to repay a loan after a discharged bankruptcy, if you have done so, you can reclaim all your money from the creditor (you'll have to go through court).
A home equity loan is a lump-sum second mortgage loan made on the available equity in a home?
True, home equity loan.
You have been in chapter 7 bankruptcy for 5 years the house needs major surgery Are there anyplaces to go for an equity loan And what happens if you leave the house?
Discharged for 5 yrs? Alot of companies will do an equity loan after chp. 7 has been discharged, check with a mortgage broker they have alot of diff. lenders to work with and should know who has the best rates for your situation.
Can you get a personal loan attached to a new home loan?
If you have equity, you can get an equity loan
