Is the first mortgage the one with the highest payment priority?
|
  |
|
|
| Author |
Message |
humberto
Apprentice
Joined: 03 Aug 2007
Posts: 1
|
 Posted: 09/03/08 - 07:34 Post subject: |
 |
|
| For people with more than one mortgage at the same time, but who have found themselves in financial trouble, the question is which mortgage they should prioritize in terms in payments. What do you have to say about that? Do you think the first mortgage is always the one with the highest payment priority? |
|
|
Back to top
|
|
|
|
 |
orbadiah
Apprentice
Joined: 24 Sep 2007
Posts: 2
|
| Posted: 09/18/08 - 05:16 Post subject: |
|
|
| I believe that people with two mortgages, but who cannot afford to repay both of those mortgages at the same time for whatever reason (and I know that I certainly couldn't!) should sell one of the houses. It is up to them which one, and this surely depends on many factors. But in any case they should make sure they end up with only one mortgage. |
|
|
Back to top
|
|
|
|
|
ashlan
Apprentice
Joined: 28 Aug 2005
Posts: 1
|
| Posted: 10/03/08 - 02:58 Post subject: |
|
|
| Would that also go for parents who have bought a property for their children and are paying it off alongside their own one, or are helping with the repayments? Not every situation is that clear cut. Anyway, if you are in that position then I would definitely advise you to get legal help. |
|
|
Back to top
|
|
|
|
|
|
| |
All times are GMT
|
| Page 1 of 1 |
Related topics: | |
|
|
