You need to make sure that your second mortgage is disclosed to the first mortgage holder before closing.That said the lender is in the bussiness of loaning money that they think will get paid back.

But the assumption that RE will "start going back up" vis-a-vis the recent bubble is misguided at best.

First question, what are the chances that the second lien holder will take less than what is owned to them?

If the second lien holder is the one foreclosing, and they (or anyone else) buy the property at the sale for the second lien, they're buying it subject to the first lien.

Mastercard/Visa/Amer Exp almost always sides with the consumer over the vender.

This new mortgage holder has essentially doubled my adjustable rate mortgage, making it extremely difficult to pay.

Buying to flip is still an option if you get it cheap enough to truly wholesale to a long term holder, but we are now mostly buying cheap, then doing lease options and helping buyers develop a long term strategy to clean their credit up and save some down money.

the philippines became the event holder for the 07 world pool championship..too bad filipino roberto gomez failed to get the crown :oops:

If the junior lien holder wins the auction, they get the property, but still owe the senior lienholder their money.

I mean even if you need to apply for a visa you need to apply your resume also or in other cases, you won't get the visa.