Effect of foreclosing second home on the first home

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What is the effect of foreclosing second home on the first or primary home? Can the bank or lender put lien on the first home?

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.80 Dollars($)

Hello Guest.

Welcome to the forum.

If the lender or the mortgage company forecloses your second home mortgage then the mortgage company can place a lien on you primary home. It will also have a huge affect on your credit report. Have consulted with the mortgage company on this issue? No lenders want foreclosure. So try to work out some options to avoid the foreclosure. Know how can you avoid foreclosure with the article 17 ways to protect yourself from the foreclosure trap

Ask the community if you have further questions.

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