My question involves real estate located in the State of: Wisconsin
When i bought my house in 2004 it was an 80/20 mortgage. I claimed bankruptcy back in 2008 and my lawyer threw in both my mortgages without reaffirming either mortgage. I realized this years later. They were both discharged and i continued to pay the first (80) mortgage.
I want to now refinance. It doesnt show up on my credit at all and I want to lower my payment. If i refinance should i try to find out the balance of the 2nd mortgage and refinance that too? Should I ask them if they would take a deal since no payments have been made in over 10 years? I have received no letters, statement, nothing from them for years! Would they take less than what is owed if its through refinancing and not cash?
If i refinance just my first, will my 2nd mortgage be able to then foreclose because they will be in the first position since their loan is older?
I just want to start with a clean slate and if I am going to have to pay my 2nd mortgage anyways why not just finally start? Idk what to do. I ak afraid so much interest has accumulated I am effed with the 2nd mortgage.