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Old 10-30-2008, 05:59 PM
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Default What happens in foreclosure when you have more than one
mortgage? we can't make our payments and have a piggyback mortgage and a heloc as well. What happens to the 2nd and 3rd loans if we let the house go back to the bank? Same bank holds all three notes (suntrust)
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Old 10-31-2008, 01:18 AM
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The risk of the junior lenders as they can only hope the property is resold at a price high enough to pay off the junior loans.
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