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    stessedoutinwi's Avatar
    stessedoutinwi Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 29, 2009, 06:08 PM
    Forclousre on the 2nd on our home
    I have HFC loan on our home it is the 2nd one year behind. Our first with another loan company is current to date. Can they foreclose on our 2nd and make us leave or sell our home in wi.:confused:
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #2

    Oct 29, 2009, 07:15 PM

    1st or 2nd home loan doesn't matter, either can foreclose if you fall behind since the home is the collateral on both loans. This could even be a HELOC or home equity line of credit, that can foreclose also.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Oct 29, 2009, 07:54 PM
    However, if they do foreclose the first mortgage has to be paid first. So talk to your 1st mortgage holder, they may be willing to refinance.
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