What happened to the Second Mortgage in the State of Florida, when our first Mortgage excludes us?

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The second mortgage bank worked with us, but the change of 1 is more than we can afford. We decided to exclude. We are upside down $ 70,000 on a $ 165,000 loan. But we fear, the second mortgage will come after us. On the second mortgage was not used as a deposit. We all together, but its PMI payments paid set 8 months ago. PMI wants to help? The loan is in my wife’s name only because they bought the property before our wedding. Is this for me?

3 Comments
  1. Reply
    realtor.sailor
    May 2, 2011 at 5:50 am

    If your first mortgagee forecloses, the second mortgage will be eliminated, unless they step in and assume the first.

    realtor.sailor

  2. Reply
    Mark William
    May 2, 2011 at 5:54 am

    Hello friend indeed risk they say is one of the key to success, I am mark william by name a business man, am from USA , I specialize in the sales of cars and their spell parts,in the early period of this year I was beginning to experience setback in my business . in that period I went to a loan firm here in USA requesting if they can assist me in getting a loan, but they said they can’t assist me in getting a loan because of the amount of money am requesting for and i was confuse because i don’t know what to do and i really need the money to put my business back in a proper shape and i even went as far in contacting all my business friends for financial help but what was their responds? i don’t have such money so i can’t help you, there was faithful when was online i met a friend of mine in turkey called Barrister. Alkaya Tuncay who is a lawyer, And i explain all my difficulties to him and said that there is a financial institute he will introduce me to that they can help me in obtaining a loan,so he introduce me to a loan firm called chevron loan. an online loan firm own by top African and Europe business men, at first i doubt that this is not real because there are too many scammed on the internet so it very risk to do business online but he assured me that i should just contact them and see what it will turn out to be because he too have took a loan from them before, so i contacted them requesting for a business loan of $ 10.5 million, and they replied me back and requested for all the necessary document that will enable me to get loan from them and i present all my document to them. after that with in the period of one week my loan was approved and sent to me the most sweetest thing about them was that they do give a bonus of euro 3,500 to all their customers who requested for euro currency and who can referred 10 people to them before the end of the year, and $ 4,000 to those who requested in dollars currency. So in case you are in need of a loan of any kind or you are need of financial assistance you can contact the manager of the firm Mr prudent narry. via Email:chevronplc.loan@gmail.com.
    please don’t forget to include my name as your referrer to them, you know at least that $ 4,000 can be added to boost my business to the next level ha ha ha ha ha ha ………………………………..i was just kidding, just contact them and get to the next level.

  3. Reply
    Kevin Williams
    May 2, 2011 at 6:07 am

    A lender is allowed to file a deficiency judgment in the state of Florida. The 2nd lien holder has to right to come after you for the deficiency if they did not recover some monies at closing. Since a judgment for deficiency must be filed with the court I would check with the court clerk periodically if a judgment was filed.

    If the property s under your wifes name the deficiency should affect primarily her but if the lender files a deficiency judgement I would move not share any joint account until the statute of limitation on the property has expired. If they receive a judgment and they decide to garnish and seize her account, your joint account will allso be seized

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