If I stop paying 2nd mortgage what are the consequences.I have discharged from chapter two years ago. I did not reaffirm my home. However, I keep on paying monthly mortgage on time. My first mortgage amount is 198000 and interest rate is 5.875 (30 year fixed). My 2nd mortgage amount is 41000 and interest rate is 8.99% (30 year fixed). I am trying to work with both mortgage lenders to have loan modification or refinancing. None of the mortgage lenders giving me clear directions. My first mortgage told me that I have to wait 4 years to qualify for refinance because I have done chapter-7. My questions as follows:1) Depending on my situation, Can I consolidate two loans into one loan with better terms.2) What will be my financial and legal consequences if I stop paying 2nd mortgage but keep on paying ist mortgage.Your comments or suggestions will be highly appreciated.Thanks,KumarMay 04 2012 - Ann Arbor00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.