Equity Home Loans

Chapter and home equity loans?

If you have a 1st for 188k and a second for 137k, but the home is valued currently at 220k, can the 2nd be partialy changed to unsecured debt as part of the repayment plan?

Public Comments

1. I doubt it but why? Pay the money you owe just as it is and you will thank yourself in the end.
2. No, because your loan to value is in a negative situation. Essentially, everything over 220K is unsecured because if it was forclosed on they would only get property value.