Apr 30, 2024
3:23:33pm
3:23:33pm
FIL has had some financial troubles & looking at a Home Equity Agreement
Anyone have experience with these?
He took out a HELOC years ago and can't afford the payments any longer. This HEA deal would wipe away the HELOC and give the creditor a small % of his home on the sale price in 10 years (he's older and doesn't think he'll be around that long).
What say you? It's been extremely stressful for him and I'm not an expert on this stuff.
He took out a HELOC years ago and can't afford the payments any longer. This HEA deal would wipe away the HELOC and give the creditor a small % of his home on the sale price in 10 years (he's older and doesn't think he'll be around that long).
What say you? It's been extremely stressful for him and I'm not an expert on this stuff.
- Previous username
- TheFarley
- Bio page
- TarCoug
- Joined
- Nov 18, 2005
- Last login
- May 20, 2024
- Total posts
- 9,490 (38 FO)
