Posted on: 11th Jun, 2010 09:25 pm
i have a mortgage with gmac and a 2nd mortgage with del-one fcu. can del-one foreclose if i cant afford the payment
welcome alankaren,
the second mortgage lender has the rights to foreclose the property. however, in most cases, they don't do so. rather, they charge off the dues and assign the account to a collection agency who will in turn collect the dues from you.
the second mortgage lender has the rights to foreclose the property. however, in most cases, they don't do so. rather, they charge off the dues and assign the account to a collection agency who will in turn collect the dues from you.