What happens with the 2nd lien?
by Susanne
Our home in San Diego recently foreclosed. We had two loans Saxon $487k and Home Eq $115k. Saxon foreclosed on our home last month. Myself and my husband have separated and are now renting. My concern is what happens with the 2nd loan that is still outstanding as Home Eq did not participate with the foreclosure! We paid our mortgage for two years and could not re-finance to help us get a good rate (lower payments) and it was an interest only loan. We were paying $4K every month for two years and then it went up to $5,500K. Click here to read or post comments.
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