Loan Modification - Free Foreclosure Help - Help Stop Foreclosure » Help Stop Foreclosure - Loss Mitigation Help » Mortgage Forclosure » What would happen if I were to go into foreclosure while

Mortgage Forclosure The forum for everything related to Mortgage Forclosure

Short Sale    Loan Modification    Loss Mitigation Training    Short Sales Training
Reply
  #1 (permalink)  
Old 12-30-2010, 02:16 PM
Junior Member
 
Join Date: Dec 2010
Posts: 1
Default What would happen if I were to go into foreclosure while

having a 2nd mortgage? Long story short, I got divorced a few years ago and now I'm left with the bills that my wife used to pay. I make about 40k a year and I live in a relatively low cost area, but I have a $1000 a month house mortgage (30 year, about 17 years into it now) and another 2nd mortgage (I still owe about 50k) that has the house as collateral, 600/month (wife took it out when we were together in my name.) I cannot keep living like this and I want to just start over.. but how? I don't see how foreclosure would work if the 2nd mortgage has the house as collateral. Is there ANYTHING I can do to get rid of these payments? I pay them on time but at the end of the month I have very little for anything else, i'm using a friends computer and my kids sometimes go hungry. I do not qualify for food stamps. PLEASE I will do ANYTHING, bankruptcy you name it.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On




All times are GMT -4. The time now is 06:49 PM.
Powered by vBulletin® Version 3.6.7
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd. Free Foreclosure Help