2nd mortgage
This is a discussion on 2nd mortgage within the Mortgages, Refinancing, Foreclosure forum, part of the Buying & Selling Property category; If a bank is forclosing on my second mortgage but I am on a plan with my first mortgage and ...
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Mar 7th, 2007, 01:47 PM
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2nd mortgage
If a bank is forclosing on my second mortgage but I am on a plan with my first mortgage and paying on time what will happen to the first motgage. Will that force the first mortgage to forclose also? The second mortgage I owe 12,000 and the first I owe 53,000. I just would like to know what they can do if I continue to pay the first mortgage, I am trying to get a plan worked out to pay the second one but they are jerking me around
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Mar 9th, 2007, 12:07 PM
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#2 |
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Top Level Member
Join Date: Feb 2007
Posts: 314
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Re: 2nd mortgage
The second takes the property rights subject to the first...the first still controls and has superior rights.
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