2nd Mortgage Flow

the first mortgage amount is $ 80 000 and $ 322 000 second mortgage. The same house sold for $ 20,000 less than the total. Adjusted for the other, or simply that there is a loss? Generally, in a note foreclosure.they selling everything you can get. Typically, only the money in the bank in first grade you can achieve much. If your house is sold for less than what I have, you can still pay the money after the sale. Consider bankruptcy. There is really no advantage to erase the past. Although you still have debt that is likely to determine the location of the house to prevent the sale or refinancing until they have paid. And it is likely to settle for less than it was then. If you are late on the second mortgage, the lender can take home and property. Eviction process varies from state to state, but usually it takes 18.2 months. Everything depends on the conditions on your loan.