This is a very common worry in this financial crunch time. Many people are behind of their mortgage payment and are worry about whether lender takes away the home. Now a Second mortgage is also a type of secured mortgage loan. The borrower takes the second mortgage against the property. So the lender has all the right to claim his due amount and can even foreclose but there is no need to panic. You should better contact your lender or the back to let them know your problem that you are facing.
The thing is that the second mortgage has less priority compared to the First Mortgage. So if the second mortgage lender wants to foreclosure then he will have to pay off the due amount of the first mortgage with the sell proceeds and after the he will get his due amount. We all know that foreclosure is a lengthy and costly process. So the second mortgage lenders do not always go for foreclosure though they have all the right to go for foreclosure.
If you are behind on your mortgage lender then you can contact your lender and check if he can help you out in some way or the other. Some times the first Mortgage lenders also buy out the second mortgage if the borrower has good relation with his and the lender knows that the borrowers pay on time. In that case you will have to make the second mortgage payments to your First mortgage lender too as he has buy out the second mortgage.
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