Second Mortgage Payments are Late

by Barb
(Rockford Illinois )

I have a second mortgage that I owe less than 5000.00 on. The interest is paid on it so this balance is principal and late fees. I am not working because of illness and am in the process of trying to get disability benefits. My spouse is working but due to loss of my income we are having financial hardship. I am going to be 3 months behind and they will not work with me and are threatening foreclosure. I am current on my 1st mortgage. Can they place a judgement or garnish my spouses wages? If they do I will lose my home. I have gone without my Rx for 3 weeks because of this. Wondering if I can just send them half payments even if they won't approve it?

Reply from

Barb - I can't imagine how stressful this is for you. Sending a half payment isn't going likely to help and it will most likely hurt your cash flow. I'd suggest you try to immediately talk with a non-profit housing counselor in your area. They can help you figure out your options. Visit or call (800) 569-4287 to find one in your area.

I would also encourage you to talk with a bankruptcy attorney asap. The bankruptcy attorney may be able to help you keep your home and catch up on your payments. You can get a a free initial evaluation with a bankruptcy attorney.

I'd recommend you take both steps as soon as possible so that you are exploring all your options. And I really hope things turn around for you soon.

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