Colli Real Estate

to challenge the foreclosure?

We are very bad (like many others) and the house we bought is worth less than they need. Our region has experienced a market crash really bad. Now that we can not afford the payments and our mortgage company can not lower the payments, we will have to exclude. My question is what about the second mortgage? We do not put money down, I just picked up a first mortgage and a second to cover 100% mortgage co. said trying to sell us and forgive others (noting in lieu of foreclosure) Is this the first company to have all the money first, or is the second in a certain amount of money?

There is a reason why a first mortgage is called a first mortgage and a second by second. In the case of enforcement mortgage, the owner of the first mortgage is paid in full, and then if nothing remains of the holder of the second mortgage you get. Finally, if you run something. I hope this will help.

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