Pre-crisis HELOC chickens are coming home to roost
Jun 22, 2015 10:08 AM - Q. Ten years ago we purchased a house for $310,000 which we financed with a first mortgage for $255,000 at 3.75 percent, and a HELOC for $65,000 at 3.5 percent. The HELOC amount was at the maximum right from the start, which has ruined our credit, and very soon our payment is going to increase. How do we get out of this?