Posted on: 04th Nov, 2010 10:00 am
im currently in foreclosure, i also have a second loan. i have stopped paying my first loan but continued to pay second. my question is, should i stop paying my second loan knowing im in foreclosure?
hi guest!
welcome to forums!
you should note that though your property will be foreclosed by the first lender, you will owe the dues to the second lender. thus, if you can afford to pay the second mortgage dues now, you can keep on paying it.
feel free to ask if you've further queries.
sussane
welcome to forums!
you should note that though your property will be foreclosed by the first lender, you will owe the dues to the second lender. thus, if you can afford to pay the second mortgage dues now, you can keep on paying it.
feel free to ask if you've further queries.
sussane
WOULD THAT MEAN THAT IF I STOP PAYING MY SECOND MORTGAGE I CAN BE SENT TO COLLECTIONS?
Hi Guest,
If you stop paying the second mortgage dues, there are high chances that the mortgage account will be sent to collections. The collection agency will in turn contact you for the payments.
Thanks
If you stop paying the second mortgage dues, there are high chances that the mortgage account will be sent to collections. The collection agency will in turn contact you for the payments.
Thanks