Posted on: 27th Jul, 2008 02:06 pm
if i go into forclosure what will happen to my second mortgage?
if i stop making payment on both 1st and 2nd mortgage what could happen to me? could 2nd mortgage come back and make me pay them some how ?
if i stop making payment on both 1st and 2nd mortgage what could happen to me? could 2nd mortgage come back and make me pay them some how ?
They might be able to file for a deficiency judgment depending on what state the property is in and whether or not it was acquisition indebtness (purchase money mortgage) or not.