Posted on: 05th Feb, 2010 05:30 pm
I have two properties, both with Citimortgage. I live in one and rent out the other. I'm upside down in the rental property and I want to get out. I'm in the loan mod process for the other. My question is...if I stop paying on the rental property, can Citimortgage add that balance to the loan of the home in which I live?
There are two separate properties and the lender will not be able to add the balance amount of one mortgage to another. If you stop paying the mortgage dues for the rental property, the lender will foreclose it.