1. What would happen if I were to go into foreclosure while having a 2nd mort
age?
Long story short, I got divorced a few years ago and now I'm left with the bills
s that my wife used to pay. I make about 40k a year and I live in a relatively l
ow cost area, but I have a $1000 a month house mortgage (30 year, about 17 years
into it now) and another 2nd mortgage (I still owe about 50k) that has the hous
e as collateral, 600/month (wife took it out when we were together in my name.)
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