My Heloc mortgage co have gone in receivership, immediately my equity is frozen. Will it remain that style?
Answers:
Probably not. It is put on hold while the bankruptcy court makes a conclusion as to how the disposition of remaining assets will go. The lawyers will work it out near the court. Don't miss a payment though, as the debtors in charge could still foreclose on you if you did. Your mortgage will probably be sold to some other mortgage company. The unusual company will probably bid on your property at or just below market significance. Once the matter is settled, your equity will be in place. Source(s): Retired CPA and collapse experience
No, it's just temporary until your loan is sold to another mortgage company. Source(s): Realtor...see profile for more.
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