Excuse any Newby mistakes, this is my first post:
I just got my SSI Disability and also owe more on my house than current market value due to 2 mortages. If I got rid of my HELOC, then my primary mortgage would be in line for the fare market value of my house. My HELOC is "maturing" from an "intrest only" payment (1st 10 yrs), to P&I (last 20 yrs of this 30 yr Line-of-Credit).
What would be my best plan of attack so I can "get rid of" my HELOC and just have my primary mortgage? I will be looking to sell, move, and downsize in the next 3 or so years, and can not "bring money to the table" at closing. I would love to break even, or possibly even get a little cash, when I sell. My credit is in the high 780's, almost at 800.
Options? (PS: Both Primary and Secondary lien holders are the same bank!!!) Thanks to all that read and reply...