Re: 2nd Mortgage

Posted by WHY CHAT (12.78.8.53) on December 15, 2003 at 14:39:18:

In Reply to: 2nd Mortgage posted by Jeff on December 15, 2003 at 13:24:57:

Be VERY careful on this, make sure you find out from your lawyer exactly what kind of foreclosure you will be getting. Some States allow for the 1st mortgage holder to foreclose and completely wipe out any possible claim for a delinquency from either them, or the 2nd mortgage holder.If you reaffirm, you MAY be setting yourself up for a future deficiency claim,

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