Discuss second mortgages with other members of our forum.
Mom of Elvis --> How can you find out if the house you have a second mortgage on is current in it's payments or into foreclosu [3 replies]
trer --> How can we slow down our culture of consumerism? [1 replies]
michael s --> Umm, Do you drink this much Coffee?? [13 replies]
looking for $$$$ --> Does anyone know how Third Party Tracers (processors for Mortgage Refunds) are paid? [0 replies]
william w --> Will a second morgtage company pay off a higher 1st. mortgage? [4 replies]
Wooly CCSBSS --> Are all MPs just property developers? Get the Mortgage paid on the second home, get it all fitted out with? [7 replies]
roving_poet --> How do guys really feel about dating moms? [1 replies]
Christina W --> I am stuck with a lien on my house that I am not entitled to pay. HELP!!? [4 replies]
Jason B --> My first and second mortgage is more than my house is worth.? [6 replies]
Ja W --> Did you know that you could not post topics questioning Barack Obama on his website? [3 replies]
trer --> How can we slow down our culture of consumerism? [1 replies]
michael s --> Umm, Do you drink this much Coffee?? [13 replies]
looking for $$$$ --> Does anyone know how Third Party Tracers (processors for Mortgage Refunds) are paid? [0 replies]
william w --> Will a second morgtage company pay off a higher 1st. mortgage? [4 replies]
Wooly CCSBSS --> Are all MPs just property developers? Get the Mortgage paid on the second home, get it all fitted out with? [7 replies]
roving_poet --> How do guys really feel about dating moms? [1 replies]
Christina W --> I am stuck with a lien on my house that I am not entitled to pay. HELP!!? [4 replies]
Jason B --> My first and second mortgage is more than my house is worth.? [6 replies]
Ja W --> Did you know that you could not post topics questioning Barack Obama on his website? [3 replies]
I am stuck with a lien on my house that I am not entitled to pay. HELP!!?
Posted by DAVE L at: 2008-03-16 07:46:28
I have a very unique problem. 4 years ago a friend and I purchased a house together. We had an ARM loan and after 3 years the payment skyrocketed. My roomate filed bankrupcy and moved out. The first mortgage was in both of our names but she also had a home equity loan in her name only. I could not refinace because the first mortgage is now owed 93,000 and the second is owed 24,000. The house only appraised at 92,000 due to the housing market. The first mortage did a rate modification for me after a year of arguing that I cannot make the high ARM payment. The second mortage said they would take a very low settlement to lift the lien off so I could do a short sale. I did not get anything in writing from the second mortgage. Now that the house is no longer in forclosure, the second mortgage does not want to take a settlement. Now I am not obligated to pay the second mortage but I need the lien taken off. Is there anything I can do to save my house?
Posted by godged at: 2008-03-16 13:03:22
I was once in your situation. Don't worry, everything will work out for you =) A year ago I found this organization that gives people up to $1500 in renter or mortagage assistance! They operate in most US cities, I highly suggest you try to get some of this money. http://www.house-help.org Good Luck!
Posted by Landlord at: 2008-03-16 09:53:10
Of course you still have to pay the second loan. Because they were going to take a settlement for your short sale did not make the obligation go away.
Posted by Christina W at: 2008-03-16 07:50:00
you can morgage another house or you can pay what you have to pay for the original house
Posted by no0b144 at: 2008-03-16 08:31:24
where did you get the idea that you are not obligated to pay the second mortgage? If it is attached to the house it will stay attached to the house, they can also foreclose on it. The lien is legal and can only be removed by the mortgage company.