I am asking whether the mortgage company could sieze the 2nd home to apply it to the amount still owed on the first home. There is 90,000. owed on the first home. The other house is owned and valued at around 65,000.
My brother passed away on Oct. 4th. He was 1 month behind on his mortgage, and his house, which has been refinanced 3 times has less value than what is owed. He was an alcoholic and has around aprx. 10 to 15 thousand in medical bills. He may have somthing from life insurance because he worked...
The first home where the owner resides is going into forclosure soon due to mortgage nonpayment. The amont owed on this home far exceeds what it is now worth. However, there is a second home, which is owned and currently being rented out. Can this second house be used to pay on the forclosed...