Hi All,
I have a question regarding wether NFCU offers HELOC loans to members with a previous BK.
I filed my Ch.7 BK in 2014 and my home was listed as part of the BK process but I was never late on payments or anything like that. I continue to live in my home and continue to pay my monthly mortgage but because I later found out I didn't reaffirm the account - and my Attorney didn't recommend it - the account is showing as "closed" after my BK :/
WIth this said, I want to know about options on how to make the best out of the equity I have on the home which is appx. $125k I am rebuilding my credit and yet I have this money that is just sitting in my home without being able to use it.. I can't refinance my home because not only I can't due to the 2yrs waiting period but my interest is also lowest than what anyone else can offer me so it would not be a good move. But with the mortgage account stating its "closed" how can i prove to banks that I still have that account besides how the statements received?
I opened an account with NFCU after all the positive feedback from members here and I just wanted to know if anyone has had this type of situation and wether NFCU has helped in in any way. NFCU also declined my LOC but I'm guessing its because the account was just opened.. I'm hoping that once I have a few months with them they'll consider my app again on this matter.. Thanks for everything and all the help.
