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can you loose your home

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standleyo Joined: 20 Sep 2009 Posts: 1 1.00 Dollars($)	Posted: Sun Sep 20, 2009 12:38 pm    Post subject: can you loose your home Like 0 Dislike 0 can you loose your home if you have 1st and 2cd mortgage, behind on one of them
sunnyca2009 Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)	Posted: Sun Sep 20, 2009 3:26 pm    Post subject: Like 0 Dislike 0 Yes that is highly possible If you donot pay any one can foreclose on the house
smithsussane Joined: 18 Sep 2008 Posts: 10038 Location: Alaska 920.62 Dollars($)	Posted: Sun Sep 20, 2009 7:57 pm    Post subject: Like 0 Dislike 0 Hi standleyo! Welcome to forums! Normally, if you are delinquent on your first mortgage, there are higher chances of a foreclosure. The first lender would simply foreclose the property to recover his dues and you would be liable to clear off the dues of the second lender after the sale. If you are delinquent on your second mortgage, then there are chances that the second lender would charge off the loan and sell it off to a collection agency. To know more, refer to the following page: http://www.mortgagefit.com/know-how/secondloanchargeoff.html Feel free to ask if you've further queries. Sussane

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