| Mortgage Forclosure The forum for everything related to Mortgage Forclosure |
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07-09-2010, 01:45 PM
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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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