Q: My mortgage modification?

We have a duplex house that we share with our in-laws. 3 years ago took a second mortgage. We use this money to build another house. The house is only half finished because we ran out of money and then my husband lost his job. We are currently in a loan modification with our bank. Bank called and told us they want to put a blanket on the loan as properties of the loan guarantee. The loan is secured with the first house. Do let us use the house as collateral is too ready to party? Any advice would be great thank you

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