Refinance after bankruptcy is pretty much like substituting it with a completely new mortgage. And second mortgage is one such option for you. It’s good for you to know that you can actually refinance with second mortgage even though if you are suffering from bad credit. So look out for good reliable lender and work on refinancing.
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Gem deserves best answer on this one she laid it on the table outright. i don’t typically hear of the 2nd mortgage suing unless their private money but theyre entitled to sue. Hope I helped.

“Email me at maybe I can help!”

Also use a free quote service such as to get quotes from at least 3 - 4 lenders. that way you will know where you stand, and will be better informed to make your decision.

They are not foreclosing and need to be repaid if the first does not have the money to pay them too after the foreclosure.

I was once in your situation. Don’t worry, everything will work out for you =)

A year ago I found this organization that gives people up to $1500 in renter or mortagage assistance! They operate in most US cities, I highly suggest you try to get some of this money.

Good Luck!

If and when the bank sells your house, the amount of the sale will be applied as follows:

First, the costs of repossession, foreclosure and the sale will be paid.

Second, money will be applied to your outstanding balance

Third, any other lienholders (2nd mortgage) will get money.

In this market, the bank is going to be lucky to sell the house for enough money to pay the fees let alone the first mortgage.

So, what will happen is that the 2nd mortgage holder will want you to pay and they very well could sue you and garnish your wages to get paid.

Good luck.

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I’m sorry about your mother. The mortgage will still need to be paid I’m sorry to say…unless your mom had life insurance. And I hope she does.

Mortgage protection insurance that is super inexpensive–and it basically pays off the mortgage when the primary earner dies. If someone buys a home worth 100K–one needs a 100K policy. Just match the mortgage to the term policy and you’re set. A family will never have to worry about mortgage payments etc.

In most families, when the primary earner dies the family will lose the home because they simply can’t afford it. A simple term life policy to pay off the mortgage–or mortgage protection insurance is critically important.

I would have to say yes to both of your questions. You can refinancing your current home and pull cash out to put down on the new home. You can also rent out the current home to off set your monthly obligations. So, you will be getting cash out the home and getting a tenant to pay your current mortgage. But, if you can get a tenant to rent out your home in the time you have to move. Your mortgage lender would simply have to make sure your debt to income ratios will allow you to take on two mortgages. As for the BK most lender would require you to have it discharged for at least 24 months. The lenders that would allow you to get a loan with a BK discharged for a couple of day would give you a higher rate as well as a lower loan amount. Which basically means you’ll have to put down more money then you’d like too.