2nd Mortgage Story

amount of the first mortgage is $ 322,000 and $ 80,000 second mortgage. The same house sold for $ 20,000 less than the whole. According to close, or simply written as a loss? Usually sold in a statement foreclosure.they so they can get. Usually, only cash at the bank where the first note, you can get. If the house sells for less than you owe, you still need money after the sale. Consider bankruptcy. There's really no incentive to close 2. Although it has yet to pay the debt and most likely would have a verdict on the house to avoid a sale or refinancing before being paid. Is likely to settle for less than we have time. If you are behind the second mortgage, the lender can seize your home and property. The eviction process varies from state to state, but usually takes 2-18 months. Everything depends on the conditions of your loan.