Loans, Debt & Credit - View Single Post - Thinking of doing a Short Sale on our House in California

playinthegame · 07-25-2009, 06:30 PM

Thank You Faith for the valuable information.
We to have a Purchase Money Mortgage on our 1st w/ Wells Fargo Bank. And will be leaning toward the Short Sale road on our home. One concern I have is we have a second mortgage that we took out for a pool loan. This 2nd is secured by the property the of the 1st. Can anyone tell me what I will have to look out for by stopping payments on the 2nd along w/ the 1st?Thank You

07-25-2009, 06:30 PM	#6 (permalink)
playinthegame Member Join Date: Jul 2009 Posts: 15 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Thinking of doing a Short Sale on our House in California Thank You Faith for the valuable information. We to have a Purchase Money Mortgage on our 1st w/ Wells Fargo Bank. And will be leaning toward the Short Sale road on our home. One concern I have is we have a second mortgage that we took out for a pool loan. This 2nd is secured by the property the of the 1st. Can anyone tell me what I will have to look out for by stopping payments on the 2nd along w/ the 1st?Thank You