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Titan · 02-12-2009, 11:04 PM

All numbers for example only.

I owe $100,000 on my mortgage.

I owe another $75,000 on a HELOC.

Great when my house was worth $300,000.

Now that it has lost value it is only worth $150,000.

Let's say my mortgage is up now. What does the bank do? Do they mortgage the full amount? Do they "call" the balance over the value of the house? Do they foreclose?

Help from money guys please.

02-12-2009, 11:04 PM	#1
Titan First Line Centre Join Date: Dec 2006 Exp:	Mortgage Question All numbers for example only. I owe $100,000 on my mortgage. I owe another $75,000 on a HELOC. Great when my house was worth $300,000. Now that it has lost value it is only worth $150,000. Let's say my mortgage is up now. What does the bank do? Do they mortgage the full amount? Do they "call" the balance over the value of the house? Do they foreclose? Help from money guys please.