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I am current with the payments on my 1st home loan ,,,but i am behind 6 months on the 2nd can the company that holds the 2nd mortage foreclose on my home...i live in South Carolina

jameshogg · Posted: Wed Mar 17, 2010 8:10 pm Post subject:

Hi skye,

The second mortgage holder has the rights to foreclose the property. However, if they do so, they will have to satisfy the dues of the first lender as the second loan is subordinate to the first. If you do not pay the mortgage dues of the second lender, then there are high chances that they would charge off the loan to a collection agency who will in turn collect the dues from you.

Thanks

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