Legal Question in Real Estate Law in Florida

Home Equity Loan

Our first and second home loans are almost $100,000 more than our house is worth. Can we renegotiate the second loan without ruining our excellent credit?

We are both currently unemployed and looking to move to another state.


Asked on 3/25/09, 1:07 pm

1 Answer from Attorneys
Brent Rose The Orsini & Rose Law Firm

Re: Home Equity Loan

Sure. Renegotiating a loan doesn't have to ruin your credit. Many banks and mortgage companies won't deal with you until you are in default, though, which, of course, will hurt your credit. There are complicated reasons why lendors take this position but, if they do, there is nothing you can do about it.

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Answered on 3/25/09, 8:10 pm


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