Follow up to my other thread: Bakruptcy Advice
Date: Thu, 07/24/2008 - 12:25
I haven't heard of that, but maybe someone else has. It might m
I haven't heard of that, but maybe someone else has. It might make sense if you owe more money than your house is worth because then there wouldn't be any point to foreclosing if they hold second place to the first mortgage. However, it would make less sense for them to do that if your house is worth enough to cover the first mortgage and the second mortgage both, because then they could get their money now by foreclosing.