Latest Posts
Home > Ask The Get Out of Debt Experts > Can Specialized Loan Servicing 2nd mortgage note foreclose on me? – Belinda

Can Specialized Loan Servicing 2nd mortgage note foreclose on me? – Belinda

Hi I have a first mortgage with BOA @ 110,000 a second with Specialized Loan Servicing @ 26,000 I owe more than the house is worth.

Todays market value is 108,000. I am in the middle of a modification with BOA been going through it for almost 18 months…

I stopped paying my second note back in September. Question: can they foreclose on me? If so is it true that they have to pay off the first note (BOA) 110,000 in order to do that?

How would I suggest a settlement to the second lien holder? I can not afford an attorney and do not want to file bankruptcy… Please advise… Much gratitude B in Michigan……


Get Out of Debt Free Hotline
debt settlement helpstudent loan help

About Consumer

This is information that was submitted by a third party and not generated by or Steve Rhode.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.


I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.