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  1. #1
    Join Date
    Nov 2006
    Posts
    1

    Default Foreclosure Issues with Two Mortgages

    My husband and I live in Maine. We purchased a home a few years back and obtained a second mortgage. The second mortgager has now filed and received a judgement because we were in arrears. With our health and medical expenses it is total impossible for me to maintain both mortgages. The condition of the home and placement being in a rural area, is not sellable within a short period of time. I have a 90 days redemption period. I am current on my first mortgage and would like to know that before the second mortgager can take possession of the property, and evict us, do they have to pay the 1st mortgage balance. and what time frame are we looking at for this to happen. The 1st mortgage is about 50K and the second is less than 15K. Thank you in advance.

  2. #2
    Join Date
    Jul 2006
    Posts
    5,437

    Default Re: Need fast reply to foreclosure questions.

    Q: I have a 90 days redemption period. I am current on my first mortgage and would like to know that before the second mortgager can take possession of the property, and evict us, do they have to pay the 1st mortgage balance.

    A: The second will have to pay the first. You have to much to lose. Get a loan. Beg and plead.

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