Posted on: 15th Jul, 2010 07:23 am
selling house for mortgage amount so no profit. I understand that at settlement I will be required to pay off 2nd mortgage of $85,000 which I don't have. Any advice?
thanks, Nancy
thanks, Nancy
welcome nancy,
you will have to contact your second mortgage lender and negotiate regarding the dues. it will be the second mortgage lender's discretion whether or not he would reduce your dues so that it become affordable for you to pay off the loan balance.
you'll have to convince the second mortgage lender about your financial hardship and request him to forgive the dues.
you will have to contact your second mortgage lender and negotiate regarding the dues. it will be the second mortgage lender's discretion whether or not he would reduce your dues so that it become affordable for you to pay off the loan balance.
you'll have to convince the second mortgage lender about your financial hardship and request him to forgive the dues.