The home will be for sale what will happen to the balance you have on your equility line of credit o

Tips and Deals Forums Buying Your Home Buying Your Home The home will be for sale what will happen to the balance you have on your equility line of credit o

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      Anonymous
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      My dad owns a house he want to sell it. He buy this house for $ 132,000 he own $ 93,000 on 2005 he got a home equity Line of credit for $ 60,000 to used for down payment to new property that he buy. Now that new property has decrease the value of the property he is doing short sale. Also he want to sale the house the he buy for $ 132,000 he own ONLY $ 93,000 BUT he also has a home equity line of credit for $ 60,000 I belive the value of this house is around $ 115,000-$ 130,000 What will be happening to the balance tha he have on his equility line of credit obtained from

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