KEYWORD:  Finances
			
DIGEST: Applicant finances a 2005 home purchase through a first and second mortgage. A year later, he obtained a line of credit to pay off the second mortgage. Payments on this line of credit were then abandoned, with Applicant arguing that the charged-off account was a mortgage, granting him certain protections under state law. Applicant failed to establish the line of credit was anything but a line of credit, not a mortgage. Financial considerations security concerns remain. Clearance is denied.

CASE No.: 19-03629.h1

DATE: 05/06/2021




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