[snooky]

...away from one, will the other mortgage get affected? We currently own two homes. The value on the 2nd home is half of the current market value and due to this we are unable to refi to get a fixed rate. So then every year after the 5th year (5/1 arm interest only), our rate changes. We are thinking of walking away from it but we are worried that our other home loan will get affected since they are both with the same lender. Should we worry?

[Unkown]

Yes it will seeing that it's from the same lender. They can put a lean on your 1st home. They can also sue you at the end.