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Date Posted: 10:21:47 04/24/08 Thu
Author: MJ
Subject: Foreclosures with HELOC

What are the consequences if I foreclose on a home with a Home Equity Line of Credit (HELOC)? The intention of the HELOC was fully disclosed to the bank and they felt there was no problem. If I have a job outside of the U.S. that I would like to take but does not afford me the luxury maintain my current mortgage I would have to foreclose. I just do not want to have any criminal record or not be able to return to the U.S.

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