A weird scenario with BK & 2nd Mortgages

Something weird I’ve been seeing lately helping customers save their house is their 2nd mortgage slipping through their initial bankruptcy.

A lady we’ve helped out last month declared bankruptcy 5 years ago with her husband and they thought the case was closed. The 2nd Mortgage note got bought out by another lender and they didn’t call, mail, or notify them of the outstanding balance.

Now that the housing market is doing well the lender is calling the loan due with late payments and interest charges trying to take over and foreclose on the house. I think this is a scammy way to do business and I keep seeing this scenario pop up!

We managed to help!

A weird scenario with BK & 2nd Mortgages 1

There’s a few ways to approach this deal where we can talk to the lender and bring the balance down, catch the payments up, and or make a cash offer for the house saving the persons equity and credit. We talk to the same lenders time and time again and know how to deal with them and they’re familiar with us.

Having professionals on your side makes a huge difference! Give us a call

– Chris Kostya Barzin

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