Posted on: 04th Feb, 2009 09:48 am
2 homes, 2 seperate mortgages with same lender. is second home at risk if first home goes to foreclo...i have 2 homes with the same lender(countrywide). even though the lender has them in seperate mortgage accounts, is my retirement home at risk should the first home ever go into foreclosure? would it be smart to refinance with a seperate lender for the retirement home?
They can not come after another home if you are making payments on it. As long as the one you are not making payments on is your 2nd/investment home, then the home you reside in is fine. I would contact an attorney to find out any implications.
Ashley is correct. The two loans are considered two seperate accounts. Two seperate business transactions.
