2nd Mortgage Guide

I can not pay my second mortgage to another lender I have to pay more, but contiue to pay the mortgage? They can force a foreclosure of the first lender. you can not sell the house, and the first lien holders will receive their money, so everything about it, and GE, when there is a balance that they owe after you have come to a decision, and garnish your wages and send you at least a 1099 you are taxed. Your second mortgage is that it is. A second mortgage. When you stop paying, they can forcloser file. Try equity loans or refinancing to pay for other loans. The mortgage is not as important in the house. If you default on second mortgage to close because the loan is secured by the property, can. The only difference when the house is closed and sold the first mortgage is paid for the other. Either way, you lose the house.