Mortgage repayment failure

Question: When we bought our Chandler home in 2006, we got a 30-year first mortgage with Bank of America, and a Wells Fargo $100,000 second mortgage home equity line of credit (“Wells Fargo HELOC”). We used this $100,000 for a swimming pool and for landscaping in our back yard. In 2011 we both lost our…

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Question: After my son’s wife died, he used the life insurance proceeds to pay off the mortgage on their Gilbert home, and my son took early retirement. My son now wants to take out a home equity line of credit on his home and use the HELOC funds to buy one or two small investment…

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