theonemgonzalez Posted March 27, 2012 Report Share Posted March 27, 2012 As far as second mortgages go, after a home goes through foreclosure.I understand that the bank can come after you for the debt owed on the second mortgage. In my case if they did, it would be a little over $80,000. My question is about settling. How often do banks sue the homeowners for balances owed on second mortgages? My amount being so high, they certainly might consider it. But since I can just go down and file BK, arent they really just wasting their time? If they do file, and I didnt want to file BK, how low would they go? How low would a CA go if it was sold to them.Simple statement, You say I owe $80,000. I will give you a check for $4,000 as payment in full. Take it or leave it and Ill file BK! Link to comment Share on other sites More sharing options...
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