2nd Mortgage Zone

You get nothing if we file for bankruptcy, to arrange a second mortgage in order to leave with only a few thousand dollars in a short sale? We expect to sell for $ 120.00, but again received minus brokerage costs $ 113.200 and the first mortgage company oluld $ 107,000, leaving only about $ 6,000 to second, but you will owe $ 42,000. You may have some influence. Second mortgagee (lender) is unlikely to take the first mortgage. All you can do is ask, but if you are in default, they are not likely to talk with you. realtor.sailor Maybe, but I doubt it. They take it on the chin here anyway. Bankruptcy will not help (or reduce its share to $ 0), there would only be $ 0, if the property is closed and sold for less than $ 107,000. If you do not have more than 60 days of your loan, you should not talk to you about a short sale. Good luck!