Posted on: 07th Aug, 2009 01:02 pm
Deed in lieu, what happens to 2nd lien position? I have both 1st and 2nd.
Before accepting the deed in lieu the first lender will probably contact the second lender. Based on how you still owe the second may ask for some pay off amoutn from first
Ultimately it will be a long process
Ultimately it will be a long process
you can evaluate option of chapter 13 bk. in that case judge on your request, may strip off your second mortgage.