punkbynature01 asked:
I used my home as collateral on a business line of credit. The bank took the position as “third” on the house and the house is now underwater in value. The balloon payment is due now and the bank said I should find another lender if I want to refinance but no one seems to have money to lend me. Can the bank take my house? Would they sell it out from under me? What options do I have? This is scary! I’ve never been late on my payments and my cash flow is excellent…What will happen to my business!
Christian
I used my home as collateral on a business line of credit. The bank took the position as “third” on the house and the house is now underwater in value. The balloon payment is due now and the bank said I should find another lender if I want to refinance but no one seems to have money to lend me. Can the bank take my house? Would they sell it out from under me? What options do I have? This is scary! I’ve never been late on my payments and my cash flow is excellent…What will happen to my business!
Christian