What hapens if you stop paying a second mortgage?

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What hapens if you stop paying a second mortgage?

Asked on November 13, 2012 under Real Estate Law, Rhode Island

Answers:

eric redman / Redman Ludwig, P.C.

Answered 8 years ago | Contributor

the second mortgage holder wil sue you for the money.  it can also ask for a foreclosure sale on the real estate but it usually does not get anything out of such a sale so it may not.  you will have to pay the money or file a bankruptcy to eliminate the debt.


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