What do I do about my second mortgage that didn’t foreclose?
Posted in Second Mortgage on 06/30/2011 04:43 am by admin
Question by Jamie N: What do I do about my second mortgage that didn’t foreclose?
Our home had two mortgages. It foreclosed a year ago, but the second mortgage is open. We believe that bankruptcy is the only way out of it but does anyone know any other way out of it? We don’t know any details of how much the first bonded got for the home and why the second didn’t foreclose. By-the way, the home was in VA.Thanks for your responses.
Best answer:
Answer by Expert Realtor
It would be nice if you posted whether or not your primay residence was sold or not….if it was and it didn’t cover the second mortgage then your only choices are bankruptcy or to pay it off.
What do you think? Answer below!