Posted on: 13th Dec, 2008 05:28 pm
In the past 4-6 month or may be longer between me and my husban have lost our job and are just now geeting back on our feet a little beat at a time, any way tought that bill have fallen behand alot our first mtg is working wite it almost went in forcloser but, our 2nd one well we never called or anything and know I have gotten paper from a lawyer office today and monday moring a sheiff officer has something as well for me and my husband Please give me any information you can HELP!!!!
hi lmwbrowneyes!
welcome to forums!
as far as i can understand your question, you have two mortgages on the property. you are unable to pay them right now and the first mortgage holder is working with you whereas the second mortgage lender have send some papers to you.
in my opinion, you should have informed your second lender about the hardship that you were facing and may be they have worked with you. however, you can still speak to them and check if they can give you any option. you can speak to them about forbearance. in this process, the lender will either reduce or suspend your payments for few months and will also give you an alternative payment plan.
i think as you have a first mortgage on the property, the second mortgage lender will not foreclose. because if they do, they will also have to pay the dues of the first mortgage lender.
feel free to ask if you have further queries.
sussane
welcome to forums!
as far as i can understand your question, you have two mortgages on the property. you are unable to pay them right now and the first mortgage holder is working with you whereas the second mortgage lender have send some papers to you.
in my opinion, you should have informed your second lender about the hardship that you were facing and may be they have worked with you. however, you can still speak to them and check if they can give you any option. you can speak to them about forbearance. in this process, the lender will either reduce or suspend your payments for few months and will also give you an alternative payment plan.
i think as you have a first mortgage on the property, the second mortgage lender will not foreclose. because if they do, they will also have to pay the dues of the first mortgage lender.
feel free to ask if you have further queries.
sussane