Posted on: 20th Jan, 2011 07:45 pm
first mortgage with one bank up to date second bank has home equity line. second bank forclosing on equity line, will i lose my home if equity line is forclosed on?
welcome guest,
you will lose your home if the second lender decides to foreclose the property. however, after the foreclosure, the second mortgage lender will have to pay off the dues of the first mortgage lender before satisfying his own dues.
you will lose your home if the second lender decides to foreclose the property. however, after the foreclosure, the second mortgage lender will have to pay off the dues of the first mortgage lender before satisfying his own dues.
It is not for sale. Make sure you have instead of artificial recharge and bank Mortagage not continue to lack appeal. What is the standard code with the Deed instead.
Can you give me advise? I had both my loans with country wide loans then went to bank of america. I lost my job and went through the 1 year thing for the loan mod..What a pain that was, Then before bank of america would do the 2nd mod they sold it to another investing company call Specialize loan servicing LLC. I have not been able to pay anything on my second for almost 2 years. I have tried to work things out with them but they want me to become current with them instead of pushing the payments to the back of the loan so I can start making my payments.What should I do
hi dan,
it will be better if you could take steps in order to get rid of the property. you should contact your lender and apply for a deed in lieu of foreclosure. this will not only help you in getting rid of the property but you won't be liable for paying the deficient balance resulting from the sale of the property.
thanks
it will be better if you could take steps in order to get rid of the property. you should contact your lender and apply for a deed in lieu of foreclosure. this will not only help you in getting rid of the property but you won't be liable for paying the deficient balance resulting from the sale of the property.
thanks