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je6931 Joined: 20 Jul 2009 Posts: 1 1.00 Dollars($)	Posted: Mon Jul 20, 2009 10:32 am    Post subject: note below in the state of Utah, what would happen if you stayed current on your 1st mortgage, but were unable to keep up with the 2nd mortgage? can the 2nd mortgage holder foreclose?
smithsussane Joined: 18 Sep 2008 Posts: 3738 Location: Alaska 561.45 Dollars($)	Posted: Thu Jul 23, 2009 9:30 pm    Post subject: Hi je! Welcome to forums! A second mortgage lender may not foreclose the property, but he can very well charge off the loan to a collection agency who will in turn collect the dues from you. A charge off will be recorded as a negative item on your credit report and affect your score. Feel free to ask if you've further queries. Sussane

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