Mortgage Forum

Joel Fraser · August 27th, 2008, 09:56 PM

not only do I have a first with wachovia I have a 2nd with American General for $20,000 that I'm having trouble making, this is the question, since my parents are on the title for the house but not on the 2nd mortgage, only my name is on that loan, what happens if I default? does that ruin my parents credit? and how would they get paid if I'm upside down on my loan on the 1st. they are calling me for the payment I am not 30 days late yet

August 27th, 2008, 09:56 PM	#1
Joel Fraser Senior Member Registered: May 2008 Posts: 907	2nd mortgage not only do I have a first with wachovia I have a 2nd with American General for $20,000 that I'm having trouble making, this is the question, since my parents are on the title for the house but not on the 2nd mortgage, only my name is on that loan, what happens if I default? does that ruin my parents credit? and how would they get paid if I'm upside down on my loan on the 1st. they are calling me for the payment I am not 30 days late yet

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