Posted on: 25th Aug, 2010 08:35 pm
If I forclose with the lender of the 1st mortgage and they get the house, whats happens if there is a 2nd mortgage lender? since there is nothing left to take ?
hi sanmck!
welcome to forums!
the second mortgage lender will come after you in order to recover his balance dues. if you do not pay him, the lender will simply charge off the mortgage and then a collection agency will contact you for the payments.
feel free to ask if you've further queries.
sussane
welcome to forums!
the second mortgage lender will come after you in order to recover his balance dues. if you do not pay him, the lender will simply charge off the mortgage and then a collection agency will contact you for the payments.
feel free to ask if you've further queries.
sussane