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Debra Harris Asked:

My husband and I have secondary property that is in foreclosure. The properth has a first and second mortage loan. We were told that we must pay the second mortgage loan or we will be sued. [Los Angeles CA]



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Answer Provided by: Preston Kenney [07/07/2009]

Not necessarily true and there is no point in paying the 2nd if you can't pay the first. The 2nd will most likely be wiped out if the property goes to foreclosure sale. Have you attempted to modify the 1st (and 2nd) to make it affordable?