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2nd mortgage foreclosing, should I still pay on 1st?

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Senior Member
What is the name of your state? MI

My ex and I divorced 2005, he refuses to pay on our mortgages, and I can't cover them both myself. Our 2nd mortgage is foreclosing and being sold at a Sheriff's sale next week. I have a 12 month redemption period, but the 2nd mortgage company's fees and interest have added $6,000 to the original 2002 loan of $15,000, and I see no chance of redemption it unless it sells within that year. It has been listed for 17 months now, at $20,000 under the 2002 appraisal of $127,000, with no offers. I can drop the price again, if it sells at $100,000 everything and everyone will be paid off, I will walk away with nothing but at least be mortgage free.

My question is: Should I keep paying on the 1st mortgage during the redemption period of the 2nd company's foreclosure, or let the 1st go into foreclosure also? The 1st company say to pay (of course) but they admit it doesn't matter to them financially, that they will get their money anyway-some kind of insurance? Their payoff is $70,000.

I can barely make the 1st mortgage payments, but does it make financial sense for me to? I feel a moral obligation to pay, but if the house doesn't sell I will be out on the street in a year anyway, and those 1st mortgage payments, totaling over $9000, will have been for nothing. My credit is already ruined, and my friends say I need to save that money, so I can at least get a land contract trailer (available up here very cheap). Thank you for your help.
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