Posted on: 25th Oct, 2010 11:56 am
If I am current on the first mortgage and the second goes into default can they garnsih my wages they are telling me they can get a judgment against me and garnish my wages they will not forclose they do now want to pay off the first mortgage of 124,000 the second is 113,000 now and the propert is only worth 165,000
the second mortgage lender will have to file a lawsuit against you and get a judgment in order to garnish the wages. if they garnish your wages, they won't foreclose the property. you can ask the lender to modify your loan so that it becomes easier for you to pay off the dues.