Lizzie asks…
What do I do about my second mortgage that didn’t foreclose?
Our home had two mortgages. It foreclosed a year ago, but the second mortgage is open. We believe that bankruptcy is the only way out of it but does anyone know any other way out of it? We don’t know any details of how much the first mortgage got for the home and why the second didn’t foreclose. By-the way, the home was in VA.
Thanks for your responses.
answers:
The reason the second did not forecloses probably is because the house did not have enough equity to cover the first note, so why throw good money after bad
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