Posted on: 09th Jan, 2010 09:15 am
sorry to bother. i am living in ct. i have two mortgages out on my condo. i am behind on them both. i owe much more then they are selling for at this point and feel i should just let it go. i want to sign it over to the first mortgage but am afraid they won't take it because of the second. would letting it foreclose be the better option? in the case of foreclosure, could the second mortgage take me to court, and who would be responsible for the condo fees during all this? i am very distressed and am trying to figure out what the most likely outcome will be. thanks in advance for any advice.
you are anserable for both the mortgages. better try for DIL/ Short sell