Posted on: 23rd Nov, 2010 05:42 am
What happens if I stop paying my interest only 2nd mortgage? Both loans are with the same lender. Can they foreclose and take my home?
Hi peachezkn,
If you stop paying the dues on your second loan, then the lender can foreclose the property. After foreclosure, you'll be liable for paying the deficient balance resulting from the sale of the property.
Thanks
If you stop paying the dues on your second loan, then the lender can foreclose the property. After foreclosure, you'll be liable for paying the deficient balance resulting from the sale of the property.
Thanks
Hello peachezkn,
Please pay your dues on time," if you stop paying the dues on your second loan, then the lender can foreclose the property. "
this is True.....
I'm suggest You as a friend..
Regards,
Harry- Law Student from California University
[External linking deleted as per forum rules. Thanks.]
Please pay your dues on time," if you stop paying the dues on your second loan, then the lender can foreclose the property. "
this is True.....
I'm suggest You as a friend..
Regards,
Harry- Law Student from California University
[External linking deleted as per forum rules. Thanks.]