Foreclosure in Boston>Question Details

Mugsie, Other/Just Looking in Boston, MA

My first mortgage was foreclosed on - am I responsible for second mortgage on same property through same lender?

Asked by Mugsie, Boston, MA Fri Sep 24, 2010

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Mugsie, research recourse and non-recourse within your state's law. in additon you may be liable for taxes for state and federal. research debt relief act of 2007 and phatom debt with in your states tax codes.

good luck.
0 votes Thank Flag Link Thu Oct 28, 2010
As seen in the past, make sure that you address the bank in question or you will be in court
rather quickly. Your best bet will to be to acknowlege them and try to figure out a solution with

At no point is it fun to end up in court against a bank's legal team...especially assuming that legal fees for your lawyer would probably be rather large.
0 votes Thank Flag Link Mon Oct 25, 2010
Yes but they can't get blood from a stone, and foreclosure wipes out junior liens (not your obligations on them)
0 votes Thank Flag Link Sat Oct 9, 2010
You betcha. You can't just walk away from your obligations and responsibilities!
0 votes Thank Flag Link Fri Sep 24, 2010
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