Posted on: 14th Dec, 2010 06:21 am
hi susan. i tried to join but dont think i know how :shock: thanks for the quick response. i am the one who ask you about lieu of deed last night. how to deal with our second mortgage. i am also disabled. i do have my retirement monies which i am saving for when i have surgery. it is !0000. the second is in my husbands name only. should i move that to my own account? i am not sure if we need a lawyer. i am so anxious. we thought this was covered in our bankruptcy two years ago. we moved out like our lawyer told us to, then we never heard of this company till we were coing the lieu of deed. please help
Hi Renee,
If the second mortgage is in your husband's name, then the lender will come after your husband to collect the dues. He will not come after you for the second loan. If you had included the mortgages and the property in your bankruptcy filing, then you won't have to worry about the mortgage payments. The lender will simply go for deed in lieu of foreclosure but they won't come after you or your husband in order to recover the deficient balance.
Thanks
If the second mortgage is in your husband's name, then the lender will come after your husband to collect the dues. He will not come after you for the second loan. If you had included the mortgages and the property in your bankruptcy filing, then you won't have to worry about the mortgage payments. The lender will simply go for deed in lieu of foreclosure but they won't come after you or your husband in order to recover the deficient balance.
Thanks
Thanks so much