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2ND MORTAGAGE

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Icon Mini Profile mpach103





Joined: 26 Jan 2010

Posts: 1

1.27 Dollars($)
Post Posted: Tue Jan 26, 2010 5:54 am    Post subject: 2ND MORTAGAGE
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I HAVE A 2ND MORTGAGE,29,000 THE 1ST 79,000 IF I STOP PAYING MY 2ND, WOULD THEY BUY THE 1ST FORCLOSE, THROW ME OUT, I PAY MY 1ST. LATE NOW 2 MONTHS ON THE 2ND, MY HOUSE IS NOW ONLY WORTH 80,000
WAS LOOKING IN TO SELLING IT BUT THE LOST IS ABOUT 36,000
Icon Mini Profile jheard
jheard
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Joined: 12 Dec 2007

Posts: 734
Location: Houston, TX
116.72 Dollars($)
Post Posted: Tue Jan 26, 2010 8:03 am    Post subject:
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Yes. Real estate is a long term investment. If you are underwater now, you may not be tomorrow. Keep paying your mortgages and your real estate values will increase in the long run.
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Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.
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