2nd Mortgage Flow

My second mortgage is held by Bank of America and Bank of America bought the land my first mortgage is now owned by Bank of America. I will disappear because they are upside down, should I stop paying two Mortagage because they belong to the same bank? and close my checking account and savings account BoA? To answer the second question, yes, of course. For the first question you should consider other options before you start as a short sale or negotiate more favorable payment terms. destroys the credit away for seven years. WOW! The best thing to do before anything is to talk to a lawyer. It is not always as simple as "path" that the bank can get deficiency judgments against them if they can not sell the house, it is because of the mortgages.