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08-27-2007, 05:13 PM
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 I have a house with 2 mortgages 1st and 2nd loan i
can pay for one and not the other can i stay in the house? I have a house that was finance with one mortgage company it got sold into 2 mortgage company's. I got behind in bills can only pay for the 1st mortgage and the not the 2nd. Can i file bankruptcy for the 2nd mortgage and still continuing making payments on the first one and keep the house adn live in it
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08-27-2007, 05:49 PM
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You have to pay both. You are using your house as collateral on both loans. The only legal difference between the loans is the 1st mortgage gets paid off first if and when they sell your house. You still lose the house.
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