second mortgage

[ffwise]

What is the name of your state (only U.S. law)? Texas
I bought a pool last year and I didnt realize that they have a second mortgage on my house. I am not able to pay the pool note and barely house note. They said that they cant come get it because the payment is like a mortgage note. I am afraid and dont know what to do. If I walk away from the house , can the pool people do anything to me.
Please answer immediately
Flora Wise

[nextwife]

If the house payment was such a stretch for you, WHY did you buy and finance a pool? A pool is FAR from a necessity.

If you are having trouble with payments, consider getting a roommate to help cover. I don't get why everyone expects the lenders to accomidate them, instead of they adjusting their lifestyle to cover the debt they chose to take on. When I was laid off, I got a roommate and never missed a payment.

Likely the "pool people" used an outside financial source and the money is now owed the the lender. Many banks and finance companies provide businesses with consumer financing for spas, pools, siding etc.

[HomeGuru]

Originally Posted by ffwise

What is the name of your state (only U.S. law)? Texas
I bought a pool last year and I didnt realize that they have a second mortgage on my house. I am not able to pay the pool note and barely house note. They said that they cant come get it because the payment is like a mortgage note. I am afraid and dont know what to do. If I walk away from the house , can the pool people do anything to me.
Please answer immediately
Flora Wise

**A: even if you walk, there may be a balance due whereby the creditor could go after you.