What happens to my 2nd mortgage home equity loan in a short sale in California?

Sunday, 6. March 2011

I am currently under short sale proceedings in CA. My first has agreed to the terms but my second, which is a non-purchase money loan, is requiring me to sign a promissory note at a reduced balance. The second has agreed to reduce my balance by 65% and payable interest free over 20 years. Should I sign? I believe the alternative to not signing is a foreclosure initiated by the first. Need help fast. Thanks for reading.


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    5 more financial accounting questions!!! HELP?

    Sunday, 16. January 2011

    1) to finance the remodeling of her kitchen, Rosa borrowed 400 on an 18 month home equity loan. She signed a promissory note bearing interest at 12 1/2 percent what total amount did rosa pay on the due day?

    2) rondel borrowed 00 for a vacation to mexico. the promissory note he signed was for 3 months at 15 1/4 percent interest. How much did Rondel have to pay when the note came due?

    3)kelly borrowed 00 for 6 months and paid 4 interest. what rate of interest did she pay??

    4)toney paid .50 in interest on a loan of 00 for 1 month. what rate of interest did he pay

    5)jennifer borrowed 00 on a 2 year note at 6.25 percent interest. what is her total interest? how much did she have to pay when the note came due?

    again i have no clue due to my teacher i have tried to work them out but i don’t think i’m doing the right thing
    Please help :)


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      How can you find out if the house you have a second mortgage on is current in it's payments or into foreclosu

      Friday, 30. July 2010

      I was given a second as a promissory note that I recorded on my house sale. When I google-earthed it, the house looked empty but could not see a for sale sign. Getting worried.


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