2nd Mortgage Foreclosure on a 1st Mortgage - Posted by Tommy

Posted by Bill H on November 09, 2006 at 15:16:57:

Mortge position has nothing to do with the right to foreclose…every lienholder is entitled to protect their position.

That being said…if the second forecloses and the property comes to them…they must keep the first current or the first will foreclose them out.

In this scenario the senior lienholder(s) have the right under their due on sale to call their liens…seldom done…but can happen.

Good Luck,
Bill H

2nd Mortgage Foreclosure on a 1st Mortgage - Posted by Tommy

Posted by Tommy on November 09, 2006 at 03:39:18:

I have always wondered if a first mortgage would allow a smaller secound to foreclose or if a 1st would allow and association to foreclosure?

2nd Mortgage Foreclosure on a 1st Mortgage - Posted by Bill H

Posted by Bill H on November 09, 2006 at 20:01:27:

Tommy, I do not answer private emails that are sent to me which concern items posted on various boards that I visit. Please post here for all to read and learn.

Thank You

Good Luck,
Bill H