Re: What if I stop paying on my 2nd?

Posted by Bill H on April 24, 2008 at 15:01:43:

In Reply to: Re: What if I stop paying on my 2nd? posted by Kamper420 on April 24, 2008 at 12:44:43:

If you stop payment on the 2nd they can go to foreclosure and possibly sue for deficiency as they are probably NOT a purchase money loan.

Possibilites of that happening in the scenario that you described, being upside down on the property, are slim as there is not equity and the 2nd may just walk and get a summary judgment against you for their position.

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