Little Secrets of Home Mortgage Loans

Marcelino
It's an unfortunate suitation, and the people telling you that you have no options are probably not correct.The fact that you pay on time does reduce the urgency that the bank feels towards working with you though.I'm in the mortgage industry but I recently met a lawyer who deals exclusively with loan modifications all over the country.Email me if you want, and i will forward his contact information to you. He will give you a free consultation and let you know if he thinks he can help you or not. It's probably worth your time to explore having a professional help you out of this mess, as the results they get can be a lot better then the results you can get on your own.edit: Also, just FYI, if you stop paying the 2nd, it will ruin your credit, but they won't foreclose. Since the first mortgage will get paid first, the second mortgage holder really has no recourse against you except to put the bad marks on your credit report.