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| Question about :
2nd_Mortgage |
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What if my 1st and 2nd mortgage are owned by the same bank?
My 2nd mortgage is owned by BofA and since BofA bought out country wide my 1st mortgage is now owned by BofA as well. I'm considering walking away since i'm upside down, should i stop paying both mortagages since they are owned by the same bank? and should I also close my savings and checking account at BoA?
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| By
Mr. C |
Posted
on
05/30/09 Total Answers
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What do you do when your mortgage company does not include the original 2nd mortgage in with the modification?
We are working on a loan modification with our lender. We just found out today that the original 2nd mortgage is getting charged off and was not included in the modification package. What can I do since they never told me the 2nd mortgage was sold to investors and that they can not include it in the modification ? I am a little dumb founded...
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| By
Tina |
Posted
on
04/19/10 Total Answers
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Do you think a 2nd mortgage company would agree to a short sale?
Rather than get nothing if we file bankruptcy, would a 2nd mortgage company agree to walk away with only a few thousand dollars in a short sale? We anticipate being able to sell for $120,00, but minus realtor fees there would be $113,200 left, and the first mortgage company oluld get $107,000 leaving only about $6,000 left for the 2nd, but we owe them $42,000.
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| By
punkinbutt'smama |
Posted
on
03/18/09 Total Answers
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What happens if I stop paying my 2nd mortgage, but continue to pay my first?
I can not pay my 2nd mortgage, what can the 2nd lending company do it I stop paying, but contiue to pay the 1st. mortgage?
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| By
Taijens L |
Posted
on
02/18/09 Total Answers
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Do you figure mortgage payments for a 2nd mortgage the same as for a 1st mortgage?
We're about to close on a house and we have a 1st mortgage, and then a 2nd to pay some of the down payment. This avoids PMI.
If I plug the numbers into a mortgage payment calculator, the 1st mortgage payment is the same as the one on the TIL the lender provided. But the 2nd payment isn't - the calculators all say it's less than what the lender is saying.
Is there a different mortgage payment calculator for a 2nd?
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| By
neffykitty |
Posted
on
12/06/07 Total Answers
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Is it better to roll-in your closing costs or get a 2nd mortgage to cover them?
We just closed on our townhome this past Friday. We ended up with less money than we had hoped for because the closing costs were so high. We're due to close on our new single family home August 10th and those closing costs are going to be higher than we planned for too! Anyway, we're going to be about $4,000 short on closing costs for the new house. Is it better to roll it in to the mortgage or get a 2nd mortgage on top of the first? Not sure how this works. Thanks.
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| By
Cookie On My Mind |
Posted
on
07/30/07 Total Answers
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When to refinance and what to do with 2nd mortgage?
Bought home in October of 2006.Bought it with no money down. Did 80/20 Loan: 1st Loan 7.125% 2nd 10.5%. Interest only 5/ARM. Price was $584000 In the Los Angeles area.
Bought Home below market value, houses around my area are selling for $650K and up.How soon can I refinance to a fixed rate and what can I do about the 2nd mortgage in order to avoid getting a Jumbo Loan rate and having to pay PMI?
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| By
Mak |
Posted
on
12/17/06 Total Answers
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How my credit will be affected & the possibility of keeping my home should I default on my 2nd mortgage?
I have a 1st & 2nd. Both mortgages are current- now. I am upside down in my property. Both loans are re-setting 9/08. Since I have no equity, what is the likelihood the 2nd will foreclose? If they decide not to foreclose can I still stay in the home & keep making the 1st mortgage payments ? How is this reported to the credit reporting agencies? For how long?
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| By
LISAW |
Posted
on
02/26/08 Total Answers
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What are my options as 2nd Mortgage holder when delinquent?
In Florida, I hold a 2nd mortgage for an individual who is 2 months behind in payments. What are my options regarding Liens?
Can I attach other property or does it have to be the property to which the mortgage pertains?
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| By
Greg A |
Posted
on
12/14/06 Total Answers
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Can a default on a 2nd mortgage cause the the 1st to go into foreclosure if payments are current on the 1st?
I have 2 mortgages and was wondering what happens if one goes into default, can the mortgage in default cause foreclosure on both the 2nd and 1st mortgage?
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| By
parasite414 |
Posted
on
12/02/07 Total Answers
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How does a seller held 2nd mortgage work?
The seller of the house that I want to buy says that he will do a seller held 2nd mortgage. How does that work?
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| By
happygirl |
Posted
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09/30/06 Total Answers
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If i am unable to pay my 1st and 2nd mortgage, can the bank freeze my checking/savings accounts?
I received my 2nd mortgage through the bank that i have my checking account with.
I am in Florida.
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| By
Sheri |
Posted
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02/01/09 Total Answers
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How do I get a loan by taking out a 2nd mortgage on my home?
I need a loan, so I have decided to take out a 2nd mortgage on my home.. How does that work? and how long does it take to get the funds? I have never does this before..
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| By
PopLady |
Posted
on
06/20/09 Total Answers
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Can I get foreclose if I miss my payment on my 2nd mortgage ?
I have been making my 1st mortgage payment, my income is not the same. I could only afford to pay my 1st mortgage payment, can they foreclose if I don't pay my 2nd mortgage?
I have contacted the bank for my 2nd mortgage that I'm not able to pay and apparently they don't care, they want payment as soon as possible.
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| By
Jewel |
Posted
on
12/12/08 Total Answers
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Do I have to file Chapter 13 if my 2nd mortgage has been charged off?
Home value is well below 1st mortgage and we have no plans to move. 1st mortgage is current but due to job loss could not keep up 2nd. What happens if I don't file Chapter 13?
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| By
midwest73 |
Posted
on
10/23/09 Total Answers
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Need Advice: What happens to the second mortgage after the home is foreclosed. Does the 2nd mortgage disappear
Unfortunately my home was foreclosed and I tought, the 1st and 2nd mortgage disappears and the procces will ended. But suddenly I started receiving calls from the bank lender of the 2nd mortgage. They said I still owed them even if the home was foreclosed and if I didn't pay them, they will reported to the IRS, so they can charge it off on my paycheck. It's that true. Need some advice. Thank You!!
(I had a 80/20 loan with two different bank lenders)
Oceanside, California
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| By
alvin |
Posted
on
12/08/07 Total Answers
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can an overdue 2nd mortgage put home in default if 1st mortgage is timely?
if 1st mortgage is paid on time and has not defaulted but 2nd mortgage is behind, can 2nd mortgage cause house to default?
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| By
ownbiz |
Posted
on
03/28/09 Total Answers
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What are the current rates for a 2nd mortgage.?
Also where can I go to find this information without having to fill out a online loan application?
My house is worth $600000, I have $120000 in equity, I want to take out a 2nd mortgage for $55,000. I'd like to know the rates currently February 15, 2007.
Thanks
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| By
tenped |
Posted
on
02/15/07 Total Answers
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How long do we have to wait to take out a 2nd mortgage?
We are wanting to do debt consolidation. We just made our first house payment. It was a Fannie Mae foreclosure which we purchased thru a loan with the USDA. We paid $58,000 the house appraises for $72,500. How long do we have to wait to get a 2nd mortgage and how much could we get? Any help would be great ...thanks
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| By
tonna_lynn_76 |
Posted
on
07/15/09 Total Answers
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Is a silent 2nd mortgage included when determining the equity in a home?
I bought my home with a silent 2nd mortgage and I need to know how much equity I have in my home. Should I determine the equity with the 2nd mortgage added to the price?
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| By
Arturo Amante |
Posted
on
06/22/07 Total Answers
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Can you include your 2nd mortgage in bankruptcy?
We are considering claiming bankruptcy because we are unable to keep up with our bills and are sinking fast. We have a primary mortgage and a 2nd mortgage on the same property- can the second mortgage be included in the bankruptcy?
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| By
GV |
Posted
on
04/08/10 Total Answers
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Paying off my 2nd mortgage with a credit card balance transfere?
Hi - I bought my house 2 years ago with 100% financing, I did a 80/20 loan. Both loans are fixed the first at 6.5% and the 2nd at 9%. I got a statement in the mail from my credit card company (chase) stating I can do a balance transferee at 2.99% until the loan balance is paid off. So would it be a good idea to transfer my 2nd mortgage onto the credit card?
Thanks
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| By
David H |
Posted
on
12/15/08 Total Answers
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Is it possible to refinance a 2nd mortgage, and not touch the 1st?
I have a great fixed rate on my first mortgage 4 3/4%, however I am paying about 11% on my second. Are there any companies out there that will refinance only the 2nd? And how does equity come into play with this, the CA housing market is not that great! Not looking for cash out, just a lower monthly payment. If anyone knows a company that might work with us, please let me know. Thanks,
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| By
Christine L |
Posted
on
07/30/08 Total Answers
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After foreclosure can the 2nd mortgage holder come after me for the balance in Colorado?
I had a property go to foreclosure in Colorado with 1st and 2nd mortgages. The 2nd is now trying to settle and has been calling and mailing me for the past 8 months. Can they collect? Should I settle or should I just pay an attorney to make them go away. They are out almost $80k and I didn't file bankruptcy.
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| By
CO4closure |
Posted
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08/22/08 Total Answers
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What happens with the 2nd mortgage when I give the 1st mortgage holder a deed in lieu of foreclosure?
I am unemployed and cannot pay the mortgage payments. I have the home on the market but it will not sell for the loan amount. I was thinking of giving the 1st mortgage holder (80%), a deed in lieu of foreclosure. Will the second mortgage holder (20%) be able to get any money or be able to file a judgment against me as home owner? I live in the State of Arkansas.
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| By
Beth H |
Posted
on
07/08/10 Total Answers
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| Question about :
2nd_Mortgage |
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