2nd mortgage foreclosure

[millerwl71]

My house is worth $120,000. I owe 110,000 on first mortgage through BoA and owe $18,000 on second mortgage from chase. I stopped paying first mortgage and trying for a loan mod from BoF. I'm still paying 2nd mortage. Could my 2nd mortgage foreclose if I stop paying it?

[laurap]

Originally Posted by millerwl71

My house is worth $120,000. I owe 110,000 on first mortgage through BoA and owe $18,000 on second mortgage from chase. I stopped paying first mortgage and trying for a loan mod from BoF. I'm still paying 2nd mortage. Could my 2nd mortgage foreclose if I stop paying it?

They can but they are fool to do that. They won't do it because they won't get any money.

[BadBobMo]

They would have to pay-off your 1st $110,000
Always Pay your 1st
If no money stop paying 2nd and try to do some type of work-out.
But that is your call! I stoped 2nd over a year ago.
Do some searching and you will be well-informed before you know it good people here is the same bubble!