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The lender can foreclose and take possession of your property subject to the first mortgage.

The lender can foreclose and take possession of your property subject to the first mortgage.

The lender can foreclose and take possession of your property subject to the first mortgage.

The lender can foreclose and take possession of your property subject to the first mortgage.

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14y ago

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What happens to the second mortgage if the first mortgage is paid off?

you then only have to pay the second


What happens if you cant pay your dutch mortgage?

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If you foreclose on your home and proceeds are not enough to pay the first and second mortgage what happens to the second mortgage lien?

You still owe the money to the mortgage provider.


Why might a homeowner take out a second mortgage?

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What recourse does a second mortgage holder have against you if you don't pay that mortgage?

If you don't pay the mortgage the second mortgagee can foreclose and take possession of the real estate subject to the first mortgage. Many of them do just that.


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Was the 2nd lien included in and discharged in your bankruptcy? If not, then that lien still encumbers the title to the property and is probably a debt you still owe.


Do you have to have to pay the second mortgage if the house is sell for less than the whole amount?

Yes. You have to pay the second mortgage regardless of how much your home sells for. You borrowed the money, you pay it back.


What if you pay off your mortgage in animal crossing but you cant find a new room what happens then?

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When do mortgage repossessions occur?

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What if your husband has left you to pay the mortgage and bills he has left no forwarding address you cant afford to pay it all can you pay half the mortgage until its sold?

No. Get personal legal (and financial) help...fast.