What can a second mortgage do if we stop paying?

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We noticed in our credit report that our second mortgage from Ditech had been discharged in a bankruptcy a few years ago. I know it is still a secured loan, but what can they do. Home value=$ 110,000. 1st mortg=$ 130,000. Ditech=$ 45000. Can the second mortgage put us out in the street?

1 Comment
  1. Reply
    Erin M
    January 26, 2011 at 11:22 am

    If you don’t pay it, they will take your house.

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