Upside down on HELOC onlyI have a $300,000 HELOC only loan (no other 1st or 2nd mortgage). I am upside down about $120,000. Bank of America insists that it is not considered a 1st place mortgage, although other banks I have spoken with tell me differently. BOA told me they are not obligated to follow the Obama HAMP/HARP rulings. I am not having difficulty making the interest only payment at this time, but in 2 more years, when the principle is added on, I will not be able to make the payment. I called BOA to come up with a game plan because I do not want to ruin my 807 credit score. They will not give me any information or help me in any way. The only thing they kept reiterating during our conversation is that I am not having a hard time making my payment. I am currently paying 2.24% on $300,000, which is about $570.00 per month in interest only payment. When the principle is tacked on, I am guessing that my monthly payment will be around $2000-$2400. per month, which will be impossible for me to make. Do I need to get an attorney, because it appears that they are going to be very uncooperative. If I can't get a modification, can I get it discharged through bankruptcy?June 30 2012 - West Palm Beach0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.