I created a previous post called “Second Mortgage Holder Jerking You Around?” that addressed the difficulties homeowners were having getting mortgages modified or short sales approved, despite the intentions of their first mortgage holders.That’s because no matter what was done to save the homeowner (and 50% of problem mortgages have second liens attached on there too) from foreclosure, the second lien holders were going to be screwed and so there was no reason for them to cooperate. And there was always some small chance that they might recover something if they dug in their heels. That’s changed. Continue reading ‘New Help for Those in Trouble with Second Mortgages’
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