Second Mortgage

Normally when you file your bankruptcy, you put our house on it as well a second mortgage too.

Suppose the first mortgage talked you into taking the house back, but after the bankruptcy was discharged and your second mortgage is with the same lender. So what do you do?

You sell your house but try get a hold of the second mortgage lien holders to get the pay off. But your lender may not let go off you that easy as they can try to squeeze out your rest of the equity. So how should you deal with this situation? Read the rest of this entry »