Posted on: 12th Jan, 2009 07:09 pm
Hello,
Me and my wife are in the process of shortsale. We have a 2nd mortgage that we owe where I work (credit union). Since i work there (credit union) my 2nd mortgage is automatically deducted in my paycheck every 1st of the month.
Can the (credit union) fire me once i stop paying my 2nd mortgage? I'm confuse and scared of losing my job. Please advise.
Me and my wife are in the process of shortsale. We have a 2nd mortgage that we owe where I work (credit union). Since i work there (credit union) my 2nd mortgage is automatically deducted in my paycheck every 1st of the month.
Can the (credit union) fire me once i stop paying my 2nd mortgage? I'm confuse and scared of losing my job. Please advise.
hi bingw,
you have mentioned that the second mortgage payments are automatically deducted from your pay check. so you will have to inform them that you do not intend to pay the 2nd mortgage anymore. it will depend on them as to how they want to recover the debts. however, though you are planning for a short sale, you will still be liable for paying off the second mortgage dues. so i think it will be better if you can keep on paying the debts.
thanks.
you have mentioned that the second mortgage payments are automatically deducted from your pay check. so you will have to inform them that you do not intend to pay the 2nd mortgage anymore. it will depend on them as to how they want to recover the debts. however, though you are planning for a short sale, you will still be liable for paying off the second mortgage dues. so i think it will be better if you can keep on paying the debts.
thanks.