2nd Mortgage Guide

Rather than nothing, if we would file for bankruptcy half mortgage companies agreed to go only a few thousand dollars in a short sale? We expect to sell for $ 120.00 but less commissions, would return $ 113 200 and the first mortgage company to get oluld $ 107 000, with only about $ 6,000 left in the half, but we owe them $ 42,000. You may have some effect. Another mortgagee (lender) is unlikely to eliminate, because they had to take the first mortgage. All you can do is to ask, but if you are in default, they are probably not talking to you. realtor.sailor Maybe, but I doubt it. They take it on the chin here anyway. Bankruptcy will not help (or reduce its share to $ 0), it should only be $ 0 if it is properly closed and auctioned for less than $ 107,000. If you have more than 60 days after the mortgage is no one to talk to you about a short sale. Good luck!