Can I Settle My Second Mortgage Without a Tax Liability? – Ellie

Question: Dear Steve, I have lived in my house for 16 years. Due to various circumstances, I have fallen behind on mortgage payments. My primary lender has filed for foreclosure as a result. My home is currently listed for sale. I have a smaller second mortgage with Chase that was a piggyback loan on a … Read more

My Second Mortgage Was Going to Settle So They Got a Judgment. – Din

“Dear Jared, I had to short sale one of my investment condos in 2010. We thought the 2nd lien was settling at closing and then they pursued me for the full amount owed and have now place a judgement against me. They refused to settle for less than 75% of what was owed. I also … Read more

Can I Get a Mortgage Release for My Second Mortgage if I Settle It? – Patricia

“Dear Steve, I owe on 1st mortgage more than the assessed value of the home. I had a 2nd mortgage like the HELOs you talk about-revolving credit loans. I defaulted on the 2nd but the company did not foreclose probably because of the value of property. I now received a settlement offer from a collection … Read more