Mortgage Foreclosure Question?
Ok, please only answer if you really know, no guessing! 🙂
Ok We have a 1st mortgage and a 2nd mortgag with another company. If we stop paying on the 1st, but keep paying on the 2nd I understand that the 1st goes into Foreclosure. What happens to the 2nd mortgage? Since it will no longer be secured by the home what happens? Is there an advantage to keep paying ont he second or should we just stop paying on both??