Posted on: 31st Jul, 2010 03:11 pm
My mother is 87 I have been discussing with her that her home is under water and she also has a second both with the same bank. If she does deed in lieu what would happen with the second that I have stopped paying for a few months for her. She has a trust but it is set up as Irrecovable which I don't believe they can touch. What would be the best avenue to take.
Thank you
Thank you
hi littlemargie,
the second mortgage lender will have the rights to come after your mother for the balance dues resulting from the second mortgage. if your mother does not pay off the required amount, then the lender will charge off the dues and assign her account to a collection agency.
take care.
the second mortgage lender will have the rights to come after your mother for the balance dues resulting from the second mortgage. if your mother does not pay off the required amount, then the lender will charge off the dues and assign her account to a collection agency.
take care.