Being that I am a debt settlement attorney, I see several people each week that come to me with a deficiency resulting from a 2nd mortgage debt. In these instances, the first mortgage foreclosed on their home and then the 2nd mortgage was not paid due to a deficiency. As this article points out, a 2nd mortgage can foreclose on your home even if you keep up with your primary mortgage.
http://www.sbwire.com/press-releases/second-mortgage-foreclosure-can-it-really-happen-191867.htm
The foreclosure process is lengthy and costly and many 2nd mortgage holders don’t want to pursue foreclosure, so if you are in this situation contact your mortgage holder, or better yet a real estate attorney. If you have been foreclosed on and are left with a deficiency from your 2nd mortgage, contact a debt settlement attorney. A law firm focused on debt settlement can negotiate for a large reduction in the remaining deficiency.

Kevin Fallon McCarthy

Latest posts by Kevin Fallon McCarthy (see all)
- Public Servants’ Second Chance at Federal Student Loan Forgiveness - April 10, 2018
- CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH - March 22, 2018
- Rise of the Jumbo Student Loans - March 17, 2018
- Credit Card Market: Now and Then - February 23, 2018
- Make Your Credit Cards Work for You - January 23, 2018