Can a home equity loan be included in bankruptcy?

Answer You can usually include a home equity loan, or "second mortgage," in bankruptcy. However, you should proceed with caution. Unless you are filing Chapter 13 bankruptcy, you may lose your home entire... Read More »

Top Q&A For: Can a home equity loan be included in bankruptcy

What is the difference between a home equity loan&a home equity line of credit?

Home equity loans and home equity lines of credit are two ways to borrow against the value of your home. Though they both use your home as collateral, they differ in a number of ways.Accessing Fund... Read More »

Can you file for bankruptcy on an equity loan?

When declaring bankruptcy, a home equity loan is treated no differently than any other type of secured loan. A bankruptcy will eliminate the debt from the home equity loan, but it does not eliminat... Read More »

If You Have a Home Equity Loan, Do You Have to Pay Off the Loan Before You Sell Your House?

A home equity loan utilizes the equity you have built in your home as collateral for a new debt. Typically, this debt goes toward improvements to the property, but it may also be used to purchase c... Read More »

How to Remove a Cosigner From a Loan Included in Chapter 7 Bankruptcy?

Sometimes, a bank will require that you find a "cosigner" before your loan funds can be disbursed--and as explains, "if the loan goes into default, the lender can hold the cosigner account... Read More »