Second Mortgage & Foreclosure
Second mortgages are becoming increasingly common for homeowners. With the rising cost of housing and other bills, many people find themselves unable to keep up with their monthly payments. When this happens, foreclosures can become a real possibility for those who have taken out a second mortgage. Foreclosure is a legal process that occurs when a borrower fails to make payments on their mortgage loan and the lender takes possession of the property as security for repayment.
When it comes to a second mortgage, foreclosure proceedings typically begin if no payment has been made within three months after the loan was due. The lender will then file with the courts an official Notice of Default (NOD) and serve it on both borrowers –the primary homeowner and the holder of the second mortgage—informing them that they are in default on their loans or agreements.
The Law Offices of the Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706