Q: Hello. I currently have a 66,000 HELOC that is maxed out. What are my options?
I have only been paying the minimum interest payment every month. I am wondering what my options are for some sort of debt forgiveness. My home has no mortgage. I have some mutual fund accounts under my name, 1 is a roth and the others are under my name as well, but are intended for my kids. I also have a couple of union pensions, one of which is in a 401a when I retire, the other is a payment or lump some plan when I retire. Currently my credit is really good and I have a total $115,000 in unused credit of those cards. What are my options as I am paying but struggling to pay the HELOC because I am currently laid off? Will my credit be ruined or taken away? Will my Roth, union pensions, or the mutual funds for my kids(under my name)be taken away?
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A: You need to have an in person consultation with an experienced mortgage foreclosure defense and bankruptcy attorney.
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