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adonis · Posted: Sun Nov 22, 2009 9:36 pm Post subject:

Welcome Pittirish,

If you do not pay the second loan, the lender will have the rights to foreclose the property. However, in that case, he will have to satisfy the first mortgage. Second mortgage lenders do not generally foreclose the property, they can charge off the loan and send it to collections.

Guest

i need help

adonis · Posted: Mon Dec 14, 2009 10:31 pm Post subject:

Hey annz,

What type of help are you looking for? If you are facing issues regarding your mortgage, you may post your question in details in the forum and the experts/members participating here may help with their suggestions.

Guest

I am in Chapter 13 Bankruptcy. My house is not included in the bankruptcy but the arreage is. My bankruptcy payments are not late but I am going to be 38 day late on my mortgage payment. Can they request a lift of the automatic payment(My december payment won't be made until Jan 8 and my Jan payment on Jan 22)

adonis · Posted: Mon Dec 28, 2009 11:05 pm Post subject:

Hi Jill,

As you will be late on your payments, the lender can request for a lift of the automatic stay. Thus, your bankruptcy may get dismissed and the property would be foreclosed by the lender. I would suggest you to contact your lender and inform him that you would be late in paying your dues. Check out what he has to say in this regard. May be he can consider your case and does not lift the automatic stay.

Guest

Hi,
My husband and I have not made our payments on our 1st or 2nd for 9 months. We moved out of the house right away because our realtor had a buyer. Our mortgage co. so far have not put anything in writing stating that they will not come after us for the second, if they wont sign off on this we would really like to get our home back, and file a chapter 13 and have everything included. all our credit is maxed, we were using it to keep our house payments currant. Should we now go see a bank ruptsy attorny or is it too late?

sara · Posted: Wed Feb 17, 2010 2:17 am Post subject:

Hi Tina,

If the property is already sold off at a foreclosure auction, then it won't make sense in visiting a bankruptcy attorney. However, if you still have the property in your name, then you may file Chapter 13 bankruptcy and get a repayment plan to pay off your dues. Before filing bankruptcy, you should contact a bankruptcy attorney and take his suggestions in this regard.

Take care

Guest

my question is we currently have 1st and 2nd mortage's on our home we then went to speak to a bankrutcy attorney about filing for either chapter's our concern is we don't want to lose our home! we can't afford the 2nd mortage can we lose our temporay modification if we file for chapter 13 th

Niicss · Posted: Thu Feb 25, 2010 3:03 am Post subject:

I don't think you would lose your temporary modification if you file for Chapter 13. However, if your temporary modification have not been accepted by the lender, then he may put a stop on it if you file bankruptcy. With the help of chapter 13, you would be able to strip off your second lien if there is no equity in your property.

Guest

After filling bankcruptcy i missed 2 month payment of my morgage

sara · Posted: Tue Mar 09, 2010 2:56 am Post subject:

Hi lama koroma,

What type of bankruptcy did you file? If you filed Chapter 13 and missed the payments that you were supposed to pay as per your payment plan, then there are high chances that your bankruptcy filing will be dismissed.

Take care.

Guest

My Chapter7 has been discharged. I am keeping my house and I am current on both mortgages. Do I still need to pay the second mortgage ?

Niicss · Posted: Thu Jul 15, 2010 2:54 am Post subject:

Have you reaffirmed your second mortgage? If not, then you are not personally liable for paying the second mortgage dues.

Guest

My spouse is filing due to bad business,illness. I am not on any of the debt.
We are both on the mortgage,but the house was quit-claimed 6 yrs ago to me only. I'm scared. Please explain why we are being advised to reaffirm the mtg. It is his debt and I am not an owner of the debt or the business

adonis · Posted: Thu Sep 30, 2010 12:29 am Post subject:

Hi scarlet,

Has your spouse included the mortgage in his bankruptcy filing? If yes, then he will have to reaffirm it to save the property from being foreclosed upon by the lender. If he is not including the mortgage in his bankruptcy, then you can refinance the mortgage and transfer it in your name provided you've equity in your property.

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