Posted on: 05th May, 2010 11:00 am
The house was put on the market and a contract was signed
the following date. I have not paid my mortgage for 2 months.
What about my 2nd mortgage..should I be paying?
the following date. I have not paid my mortgage for 2 months.
What about my 2nd mortgage..should I be paying?
Hi Guest,
Though you go for a short sale on your first mortgage, the second lender will have the rights to receive his dues. If you don't pay off his dues, then he will have the rights to send your account to collections. Thus, you will have to make payments to your second lender.
Though you go for a short sale on your first mortgage, the second lender will have the rights to receive his dues. If you don't pay off his dues, then he will have the rights to send your account to collections. Thus, you will have to make payments to your second lender.