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2nd mortgage options, if any

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Guest	Posted: Thu Jul 15, 2010 7:47 am    Post subject: 2nd mortgage options, if any Like 0 Dislike 0 have a poor offer onmy house in Florida. no longer live there - now in Pa. offer will cover mortage loan but not the 87,000 eqyity loan with WF. Is it possible for WF to modify or change loan type? I know if I sell, the 2nd mortgage must be paid off but I can't afford to pay it now. Any help appreciated. Paul E
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Thu Jul 15, 2010 8:08 pm    Post subject: Like 0 Dislike 0 Welcome Guest, It is true that if you sell off your property, then the second mortgage should be paid in full. As you're unable to pay off the dues in full, you'll have to negotiate with the second mortgage lender. It will be the lender's discretion whether or not he would forgive a portion of your loan so that it becomes affordable for you to pay off the dues. _________________ Procrastination is the enemy of your financial success

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