2nd Mortgage

January 25th, 2011 by Questions

We have a first and second mortgage.Were up to date with are first.The second is 1 payment behind.Can the second mortgage company foreclose for those reasons if we are able to get caught up?

Posted from: British Columbia

Questions

One Response to “2nd Mortgage”



January 26, 2011 at 7:32 am, A licensed trustee said:

In order for the second mortgage to foreclose they have to guarantee to pay out your first mortgage. I have seen it doen, but it is faily unusual. If you contact them it is more likely that they will let you “catch-up”. Of course if you keep repeatedly falling behind you may want to speak to someone about your monthly budget…

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