Short Sale, Foreclosure and Strategic Default


Monday, June 23, 2008

HELOC Debt may be dischargale even if loan app was virtually fradulent

The bloggers over at calculated risk recently reported that a bankruptcy judge found HELOC Debt on a stated income loan is dischargable. The finding considered the fact that the borrowers had "mis reported" their income. This is a very important ruling. If it is followed by other bankruptcy courts, borrowers may have one less thing to worry about....

Calculated Risk: BK Judge Rules Stated Income HELOC Debt Dischargeable

No comments: