Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - What would happen if I were to go into foreclosure while having a 2nd mortgage? - Long story short, I got divorced a few years ago and now I'm left with the bills that my wife used to pay. I make about 40k a year and I live in a relatively low cost area, but I have a $1000 a month house mortgage (30 year, about 17 years into it now) and another 2nd mortgage (I still owe about 50k) that has the house as collateral, 600/month (wife took it out when we were together in my name.) I cannot keep living like this and I want to just start over.. but how? I don't see how foreclosure would work if the 2nd mortgage has the house as collateral. Is there ANYTHING I can do to get rid of these payments? I pay them on time but at the end of the month I have very little for anything else, i'm using a friends computer and my kids sometimes go hungry. I do not qualify for food stamps. PLEASE I will do ANYTHING, bankruptcy you name it. -