BestInMortgage.com Post Your Mortgage Question Find mortgage expert in your area
You are not logged in. Login here. Not a user? Sign Up
Email: Password:
 
Search by Mortgage Terms: Ask My Question
613 Experts, 1440 Questions, 1555 Answers


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]

01/13/2009

Keywords:
                   

 
 
0
Not Ranked
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?