Category Archives: Second Mortgage Settlement
Are You Responsible for a Second Mortgage After Foreclosure in California? The Law May Surprise You
Many homeowners in California assume that once their home is foreclosed, all their mortgage debt disappears. But when a property has both a first and second mortgage, the question of responsibility after foreclosure becomes more complex. Whether you still owe money depends on the type of loans involved, the foreclosure process used, and California’s… Read More »
Behind on Your Second Mortgage? What You Need to Know Before Foreclosure Becomes a Reality
Owning a home in Los Angeles is an incredible accomplishment, but for many homeowners, carrying both a first and second mortgage can create serious financial pressure. When unexpected challenges arise, such as job loss, medical expenses, or inflation-driven cost increases, some borrowers fall behind on their second mortgage while continuing to pay the first…. Read More »
What If the First Mortgage Is Current but the Second Isn’t? How California Law Treats Split Mortgage Defaults
Homeownership often brings stability and pride, but financial hardships can unexpectedly disrupt even the best plans. One scenario homeowners frequently encounter is staying current on their primary mortgage while falling behind on a second mortgage. Known as a “split mortgage default,” this situation raises important questions about foreclosure risks, legal protections, and possible solutions…. Read More »
Will a Second Mortgage Prevent You From Selling Your Home?
If you’re thinking about selling your home but have a second mortgage or home equity line of credit (HELOC) still attached to the property, you may be wondering: Will this stop the sale? The short answer is no—but it will affect the process. A second mortgage, sometimes referred to as a subordinate lien, doesn’t… Read More »
Second Mortgage vs. Home Equity Line of Credit (HELOC): How Each Is Treated in Bankruptcy
If you’ve borrowed against your home—whether through a second mortgage or a home equity line of credit (HELOC)—you may be feeling added financial pressure as debts pile up. For many California homeowners struggling to stay current, the threat of foreclosure or lawsuits can become very real, especially if the value of the home has… Read More »