What happens to 2nd Mortgage?

[DaisyMae]

If the value of your house is dropping,

then so is the secured protion of your second mortgage. If you owe a 100,000 first and a 50,000 second, and now your house is wirth 95,000 for example- the second mortgage is now unsecured, and will be discharged just like a credit card balance would be discharged. Also if your mortgage is over the value at all there is talk of the court being able to strip the mortgage to the current market value. Things will be happening...

[TEW]

the second is not and unsecured loan you have to pay both.

[dogbone33]

I was wondering what happens to the 2nd Mortgage after we file c7? We owe about 62k on the 1st and 12k on the 2nd. Total value of 74k. The house is probably worth 60k if we are lucky (with this economy 4 years ago it appraised at 70k). I read somewhere where since the 2nd mortgage would not be secured since the house isn't worth as much it will be dropped? Just trying to figure out if that is true. We are keeping the house.