Greg A asked:


In Florida, I hold a 2nd mortgage for an individual who is 2 months behind in payments. What are my options regarding Liens?
Can I attach other property or does it have to be the property to which the mortgage pertains?

Marjorie

Cookie On My Mind asked:


We just closed on our townhome this past Friday. We ended up with less money than we had hoped for because the closing costs were so high. We’re due to close on our new single family home August 10th and those closing costs are going to be higher than we planned for too! Anyway, we’re going to be about $4,000 short on closing costs for the new house. Is it better to roll it in to the mortgage or get a 2nd mortgage on top of the first? Not sure how this works. Thanks.

Edith

T M asked:


What will happen with my 2nd mortgage when I foreclose on my first? Will the bank add it to my 1st? It is a tottally seperate account. How will the bank act on it?

Anna

Nostalgic asked:


the rate is lower… 4.9 vs 8.5, and it is fixed. I can always leave the 2nd mortgage line open and transfer the money back if i default and they jack the rate.

Lynn

jafco13 asked:


My friend currently has an ARM mortgage and is in bankruptcy. She needs to know if there is anyway for her to get a second mortgage or to refinance the mortgage she has right now while going through bankruptcy. I told her I didn’t believe she would be able until after the bankruptcy but I would check around anyway. Thanks in advance all.

Allison

howi_how asked:


We filed bankruptcy a year ago. We left out the first mortgage but included the second mortgage (home equity line of credit). It has been discharged, no one contested it and we haven’t received a statement or any other communication from them since. We want to sell the house now to our daughter. Does that 2nd mortgage company still have a claim to the property?

Dana

whattheheck asked:


If we refinance and combine our 1st mortgage and our home equity line, what type of loan is that called. I don’t want to call a mortgage place right now because they will run our credit and all that stuff. Also would we qualify for the low rates that are being advertised if we have good credit?

Antonio

punkinbutt’smama asked:


My husband and I are contemplating buying a new home. We have only owned the one we have now for 1 year. We also have a second mortgage. My question is - will the proceeds first be used to pay off the second mortgage before they would be subject to capital gains tax? What happens if we don’t get enough in the sale of our home to pay off the second mortage completely? If we have money left over, what can we do to avoid the capital gains tax on it?

Jacob

z2008a asked:


I want to refinance my 1st mortgage with the same lender, pay off 2nd mortgage from another lender, get cash out for to pay off other loans. Total amount to borrow is $330,000.00. How much should the lender charge to do this?

Willie

alvin asked:


Unfortunately my home was foreclosed and I tought, the 1st and 2nd mortgage disappears and the procces will ended. But suddenly I started receiving calls from the bank lender of the 2nd mortgage. They said I still owed them even if the home was foreclosed and if I didn’t pay them, they will reported to the IRS, so they can charge it off on my paycheck. It’s that true. Need some advice. Thank You!!

(I had a 80/20 loan with two different bank lenders)
Oceanside, California

Raymond