Mortgage Forum

Mike

This is long, but please help! My wife and I bought a new mobile home in S.FL.(used Wachovia) in 2005, later decided to buy a new HOUSE in 2006 in Central FL (used a real estate attorney) ref. 2 closings 80/20. We lived there for 10 months but never sold the mobile so we moved back to S. FL to make more money to afford both mortgages (HOUSE has been vacant since). Here is my question. Bills are getting tight and Fore/bank/shortsale soon. I happen to look over my loans for the HOUSE 80/20 loan and read that my mortgage broker checked the box for my 80% as a second home(Wachovia also) and second home rider doc. also and my 20% HELOC as primary. Mort. broker even wrote on both app's that our jobs were in S. Fl at the time. Our reason to purchase the home was to be primary and we moved there instantly/ got jobs/ changed DL's. Is this normal practice to have a primary and secondary loan on the same property? My attorney didn't even find it. Is he liable, mort.broker liable, am I ? Both loans have been purchased already, is it too late for legal action on their part against me since those initial loans are closed? I don't want to go to jail!!!! Bad place.... Thanks, sorry so long.