Posted on: 29th Feb, 2008 04:31 am
I have 3 mortgages right now on my primary home. I have not yet defaulted on any of them but I just wanna get rid of them. If I sell the home, I won't be getting a price worth the total balance. Is it possible that I let the second and 3rd mortgages foreclose by not making payments any more. the market value is lower than the balance on the first mortgage?