Posted by Michael Morrongiello on March 17, 2000 at 13:14:35:
If I am hearing this correctly there is no equity here?
It sounds like this home owner was lured into accepting one of those 125% loans. He is “trapped” at this time. He owes more than the house is worth and should probably threaten to walk away from it which might bring the 2ndl lienholder into some negotiations.