Can you have two home mortgages?

Buyers who have enough income can carry two mortgage payments at once if they still meet the debt-to-income ratios required by their lenders. You, then, might be able to qualify for two mortgages at once, if your credit score and job status are also strong.

Can a foreclosure on one house affect two?

We do not have the money to pay for two homes (rent will not cover mortgage). House No. 2 has a home equity loan attached to it. If we let it go back to the bank, can they attach the home equity on to House No. 1, the one we live in? We cannot sell House No. 2 for what we owe in this market.

How can I get Out of a foreclosure on my second home?

Each state legislature created unique foreclosure and anti-deficiency laws. Follow the links just mentioned to learn the foreclosure rules relevant to you. You may be able to rid yourself of the obligation to continue paying on your second home by filing for bankruptcy protection.

Is there a link between a foreclosure and a deficiency?

Foreclosure laws and anti-deficiency rules vary by state. There is usually no link between an owner’s two properties.

Can you sell House No 2 for what you owe?

We cannot sell House No. 2 for what we owe in this market. Foreclosure laws and anti-deficiency rules vary by state. There is usually no link between an owner’s two properties.

Foreclosure laws and anti-deficiency rules vary by state. There is usually no link between an owner’s two properties.

We cannot sell House No. 2 for what we owe in this market. Foreclosure laws and anti-deficiency rules vary by state. There is usually no link between an owner’s two properties.