I am trying to get rid of some debt so I joined a program that says will help me do that but I had to stop making payments to my creditors.

I have an applicant with the following application credentials:550 credit score, two bankruptcies, a foreclosure, moved 3 different times in 2017  Now on the upside:No debt (that seems obvious), earns a good salary, been on the job for 25 years, lives alone, no pets.This person once took care of other family members and no longer has anyone to take care of anymore.

Financial advisers state to not carry long term variable interest debt. 

I don't have a single client with >3 Bay Area mortgages that has the day-job income to support those 3 Bay Area loan amounts (we're talking $1m to $5m in debt here, easily), so yes it's certainly possible.

Either you need to increase the value or pay down more debt.

I'm researching various company options for HELOCs, and came across https://www.patchhomes.com/faqHere are a few highlights:We offer a debt free alternative to home equity loans and HELOCs.

Thanks Abel, I guess looking for a partner is the best way to go around this.Thanks for your comment Thomas and Amit, but I've read plenty of books that talks about how people in debt were able to buy real estate and became millionaire real estate investors.

One of the factors lenders use is called your Debt-to-income ratio.

I've seen typical numbers of 1%-2% higher than your current rate when it adjusts.Most financial advisers will recommend against having varying interest rate debt....which is exactly what a HELOC is. 

@Steven Young, I have attended an auction (Dekalb county) and what I could realize is: As it is a redeemable deed State You gonna buy the property and only will be able to gain possession of it after a year (redeemable period) - also going to take some extra days to deal with the foreclosure process.