2nd Mortgage Flow

If the first mortgage is paid on time and not crash, but the second mortgage is late, can lead to other standard home loan? Yes, in most cases the best we can do is put a link to your home. in the prime mortgage holder can have any rules about this myself. However, it is a slippery slope. want to refinance as soon as possible. Get a loan, of course. The loan is secured against property. If you do not pay, you can go next. On the other hand, are not protected as nonrecouse second mortgage and the IRS comes after a tax on employers. Launch of second mortgage is secured by a first mortgage as well. The only difference is that in second position behind the first mortgage, which means that the first mortgage is paid first should seize. If the second mortgage is held by the mortgagee, even if the first block as if something is not working.