0
The question is a bit unclear, but typically a home equity loan has a second lien. If the home is foreclosed, the first dollars received will go to pay off the first mortgage; if more proceeds are received than are required to pay off the first mortgage, they will go to pay off the home equity loan, and the remainder (if any) will go to the former homeowner. If enough isn't generated by the sale to pay off both loans, all accrued interest, missed payments and fees the banks incurred to foreclose, etc., then the former owner (you) are still responsible for the deficiency, and they will seek to recover that.
The first mortgage holder is the one that gets to decide whether or not to foreclose, but the second lien holder (the home equity lender) usually has the option to pay off the first mortgage holder and step into its position (it may wish to do so if it fears the first mortgage holder selling the house for less than would be required to fully repay the second lien holder).
What else can I help you with?
For the following circumstances calculate the missing figure Owners Equity 100000 Liabilities 20000 Assets?
Assets= Capital+Liabilities So Assets=? Capital=100000 Liabilities=20000 Then Assets=100000-20000= 80000/-
What is 33 percent of 20000?
3.3% of 20,000= 3.3% * 20000= 0.033 * 20000= 660
What is 42 percent of 20000?
42% of 20000= 42% * 20000= 0.42 * 20000= 8,400
What is 19 percent of 20000?
ANSWER: 380019% of 20000= 19% * 20000= 0.19 * 20000= 3800
What is 19999 rounded to the nearest ten?
20000
What is 19598 rounded to the nearest thousand?
20000
What number is 0.85 percent of 20000?
0.85% of 20000 = 20000*0.85/100 = 20000*0.0085 = 170
What is 20000 20000?
40000
What is 20000-300?
20000-300 = 19700
What is 3.75 percent of 20000?
3.75% of 20000 = 20000*3.75/100 = 750
What is 15500 rounded to the nearest ten thousand?
It is 20000.
What is 20000 times 20000?
400000000
