Short Sale, Foreclosure and Strategic Default

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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

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