What is most likely to happen if we stop making our second mortgage?

[onwards]

they will foreclose. same institution so they don't lose any more by doing that. did you apply for hamp?

[spidge]

Tough spot to be in when the same company holds both mortgage notes. BofA has been known to be slow but I would think they would foreclose.

[tucson]

I currently have a first and a second mortgage with Bank Of America...Neither was reaffirmed and both were discharged in my BK but we have continued to make timely payments until last month. We want to stay in our house but we simply do not have enough left over every month to pay the second mortgage. Our house was appraised at 150K In January (probably lower now) and we owe 198K on the first and 70K on our second but again both are with the same lender. Whats most likely to happen if we simply stop making the payment on the second? Will Bank Of America foreclose since they own both notes? Any tips? Thanks in advance!