Posted on: 01st Mar, 2010 07:32 am
what can the second mortgage company do to me?
Place a Judgement against you.
Hi hernandezr,
If you stop making payments to the second mortgage lender, he can get a judgment against you and garnish your wages. The lender can also put liens on your other properties or can come after your other assets like your savings accounts, etc. They may charge off the debt and sell it to a collection agency. The agency will then come after you to collect the debt.
If you stop making payments to the second mortgage lender, he can get a judgment against you and garnish your wages. The lender can also put liens on your other properties or can come after your other assets like your savings accounts, etc. They may charge off the debt and sell it to a collection agency. The agency will then come after you to collect the debt.
