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What this means for you is that even if you stop paying your second mortgage, the holder of the second mortgage will probably not foreclose. Why? Because, in the event the junior lender forecloses, all the proceeds of the foreclosure sale will go to repaying the senior lender.. The information provided on this site is not legal advice, does.
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Information Stop: florida-second-mortgage If your mortgage is not underwater or your second mortgage is partially secured, and you stop paying your second mortgage, the holder of the second mortgage will likely foreclose because it stands to recover all or part of the money it.
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