Loans, Debt & Credit - View Single Post

slopez · 11-11-2008, 11:54 AM

My second with is is with Select Portfolio. We currently have a 13% interest rate, a payment of $737.00, fixed rate for 30 years. We "were" behind on our first and our second but since the modification on the first went through, for now we are in good shape with them. I have been declined a modification with SPS becasue my rate is fixed. We are currently 4k behind in payments and have been served a NOD. My question is if the second won't help us and we continue to pay the first (the majority of the loan) can we still go into foreclosure and risk our house getting taken away, or does the second put a lein again us? We have NO equity in the house and owe more on it than it's worth.

11-11-2008, 11:54 AM	#1 (permalink)
slopez Member Join Date: Jun 2008 Location: California Posts: 25 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	SPS no help... My second with is is with Select Portfolio. We currently have a 13% interest rate, a payment of $737.00, fixed rate for 30 years. We "were" behind on our first and our second but since the modification on the first went through, for now we are in good shape with them. I have been declined a modification with SPS becasue my rate is fixed. We are currently 4k behind in payments and have been served a NOD. My question is if the second won't help us and we continue to pay the first (the majority of the loan) can we still go into foreclosure and risk our house getting taken away, or does the second put a lein again us? We have NO equity in the house and owe more on it than it's worth.