I Have a HELOC Loan Against My Brothers House. I Can’t Make Payments. – Junior

“Hi Steve,

Last year I started the process to buy a house with my domestic partner but 4 days before the closing in nov. 2008 I lost my second job since then I been trying to find a second job (part-time/full time) without look, since then I have add about $20,000 in debt. but I also have a HELO for $60,000 on my brothers property which I’m also co-applicant. I stop making payments on everything a few months ago. I’m about to go in foreclose for the house the I bought in nov. but my mayor problem is my brothers house, that because I stop making payments he could lost his house.

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Is any way that I can avoid that?



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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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