Second Mortgage Payment Reduction

[Lori Burton]

What is the name of your state (only U.S. law)? Florida
Our second mortgage is not payable at the present rate. Instead of not paying, we have been sending a much smaller amount. The company has been cashing the checks, but no invoice or payment plan or any information has been sent since we stated doing this.

 

[nextwife]

They up are not OBLIGATED to continue accepting partial payments- the arrearage will continue to build unless you have actually submitted a hardship package and signed modification documents. They could choose to foreclose from second position, and have that right in many places. Many seconds will not modify because of the higher risk loan they are holding.

What was your second obtained for?