Advice on settling my 2nd mortgage
Hello,
I need advice on settling my 2nd mortgage.
Property location: Pennsylvania
Primary residence
Balance of 1st Mortgage: $704,000 (TD Bank)
Balance of 2nd Mortgage: $178,000 (Guaranty Bank)
Zillow Estimate: $698,000
We are current on both mortgages. If I stopped paying 2nd mortgage for 6+ months, would the 2nd mortgage lender foreclose? I'd like to know my chances of settling the 2nd mortgage. I've read TomEason's excellent posts about settling the 2nd.
Thanks in advance.
Hello,
I need advice on settling my 2nd mortgage.
Property location: Pennsylvania
Primary residence
Balance of 1st Mortgage: $704,000 (TD Bank)
Balance of 2nd Mortgage: $178,000 (Guaranty Bank)
Zillow Estimate: $698,000
We are current on both mortgages. If I stopped paying 2nd mortgage for 6+ months, would the 2nd mortgage lender foreclose? I'd like to know my chances of settling the 2nd mortgage. I've read TomEason's excellent posts about settling the 2nd.
Thanks in advance.