2nd mortgage

Posted: Fri Oct 16, 2009 5:01 pm Post subject: 2nd mortgage

if i stop paying a 2nd mortgage what happens with the 2nd lienholder if they foreclose can they and will they pay off the 1st and second and move one to the next owner pls advise thank you vic

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1734 35.84 Dollars($)

If you stop makign payment to the second, the secodn lender will propabbly foreclose on the house and they will need to pay the first lein holder before they take thier share. Most probably they maynto get much

But some time they may negotiate with them for certain percentage between the two

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