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12-08-2007, 05:01 PM
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 Can a default on a 2nd mortgage cause the the 1st to go
into foreclosure if payments are current on the 1st? I have 2 mortgages and was wondering what happens if one goes into default, can the mortgage in default cause foreclosure on both the 2nd and 1st mortgage?
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12-08-2007, 05:23 PM
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Yep. Not paying home equity loans can cause them to foreclose on your home. Your home would be collateral on the second loan, therefore if you don't pay it, they take your home.If you're having trouble paying I would contact your lender immediately and see if you can work something out with them until you can get caught up. See where you can shrink your budget, taking money from other things to pay for the second mortgage. No more eating out or movies, etc. Tighten up the budget.
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