i have 2 mortgages in my home loan?

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i have 2 mortgages in my home loan, thing is i haven’t paid the 1st loan mortgage for about 3 months already bec of very very hard times, so the question is, what will i do with the 2nd loan? am i going to continue paying the 2nd loan while not able to pay for the 1st loan knowing that it will still lead to foreclosure anyway? that i would only waste precious money of what i have left if i would still pay the 2nd loan knowing that the 1st loan can’t be paid and would lead to foreclosure anyway, either way?

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    April 30, 2011 at 11:31 pm

    Get on the phone with your first mortgage lender immediately and let them know your financial situation. Maybe they can work with you to prevent foreclosure.

    As to your question, yeah, I guess if you’re not paying the first loan, no point paying the second, because either one can foreclose on you. But what you really want to be doing right now is contacting each lender to try to find options. Maybe you can get through this and keep your house.

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