Real Estate

Second mortgage due date

  • Last Updated:
  • Dec 5th, 2019 9:49 pm
[OP]
Member
User avatar
May 12, 2006
253 posts
67 upvotes

Second mortgage due date

I'f the second mortgage taken on home equity is due after a year. And the lender is not interested in renewing it, is the borrower allowed to only make the interest payments on the second mortgage after maturity date?

The contract is so ambiguous and doesn't mention any dates or time frames for payments.

How much is the grave period for due payments before the lender can pursue foreclosure?
2 replies
Newbie
Nov 15, 2019
70 posts
27 upvotes
This sounds like a situation where it would be best to have a lawyer review the contract.
Newbie
Dec 4, 2019
4 posts
you will have to find a new lender for your second mortgage, I suggest contacting your lender to find out the exact date your term expires!

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