Second Mortgage / Home Equity Line of Credit (HELOC)
Your Rights Involving Second Mortgages
To alleviate your past financial problems, you may have taken out a second mortgage, only to have it turn into a high-interest and even higher payment nightmare. You may look at your entire financial outlook and believe that bankruptcy and even foreclosure would cause even more debt problems.
While not the solution for everyone, bankruptcy is still an option you should explore if you are enduring the ongoing stress and strain of money issues and creditor harassment. At the law office of attorney Eric Ollason in Tucson, Arizona, we will identify if bankruptcy is your best route to peace of mind and how we can handle that second mortgage.
Foreclosure of your house can stop collection actions according to federal bankruptcy laws. That includes whatever is owed on a second mortgage. For help, contact us at (520) 791-2707.
Bankruptcy Can Protect You
Arizona’s statutory law(s) sometimes comes into play when creditors attempt to collect on a deficiency judgment. Federal bankruptcy laws control these collection actions. Simply put, creditors cannot come calling if the bank forecloses on your home.
Alleviate the Stress and Burden of Your Financial Problems
At the law office of Eric Ollason, we encourage our clients not to delay speaking to a knowledgeable Tucson bankruptcy attorney regarding a real estate foreclosure action or appropriate bankruptcy filing. With our free consultation, you have nothing to lose and everything to gain, including the possibility of a fresh start. That burden of a home equity line of credit can be a thing of the past.
For more information or to schedule an appointment with an experienced lawyer, please contact us.
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