Posted on: 04th Feb, 2010 11:43 am
I was layed off from my job so I retired. I can pay my 1st house payment and only 1/2 of my 2nd. I was paying 1/2 of payment on my second but they said I need to pay the whole amount to stay current. I asked for a home modification loan for the 2nd but they keep telling me its under review. Should I still keep making 1/2 payment on my 2nd.
***This is not legal advise***
If it were me I would say no. If you are making half of a payment it doesn't do you anygood. Your credit is still going to be damaged and you could face foreclosure anyway (probably not since your first mortgage is current). I would continue to try and work on the modification with them depending on what lender it is you will probably be succesfull.
If it were me I would say no. If you are making half of a payment it doesn't do you anygood. Your credit is still going to be damaged and you could face foreclosure anyway (probably not since your first mortgage is current). I would continue to try and work on the modification with them depending on what lender it is you will probably be succesfull.