An 80/10/10 means that 10% is your down payment, 80% is your first mortgage and the other 10% is a second mortgage.

So two of the first or one of the second.

Sounds like your 119k loan in default is in first position, just from simple math (if that was second, a first would probably be a larger amount, unlikely given your 164k estimate).

Second, that's something you need to take to a good real estate attorney.

My payment ended up being about the same as with the first and second together.Thanks for the input everyone.Biggq

I second that.

Hey everyone,The township across the lake from me is an old vacation community with 1-2br year round bungalow homes that are prime for second story additions to make them 3-4br.

If you have a second mortgage get rid of it as soon as you can.

The number of out of state investors buying second home or investment home in Texas specially in these cities have increased rapidly.The research was very extensive, but the result speaks loudly of great business in Texas.

I would do more investigation into the place, maybe ask for a second opinion from another agent.