If Second Lien Holder Forecloses Does He Pay Off First Lien All Locations : Advice

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, Just Looking in
Find a good real estate attorney who is educated in foreclosures. Having the co ... the first or second internet auction does not get the reserve, maybe the third or fourth auction will ... Read more
Posted Wed Jul 28, 2010 by
Diane Wheatl…, Real Estate Pro in Rancho Cucamonga, CA
thank u i wish you can help us RachelDear Rachel, Can you share your situation ... keep our property taxes current and insurance on the home what rights does a lien holder have if the ... Read more
Blogged Sun Sep 4, 2011 by Diane Wheatley, Broker Home Selling Foreclosure Home Insurance
Mike, Other/Just Looking in Plymouth, MI
Mike asked:
what can I take from a foreclosed home? As in, can I take just appliances and furniture/assets, or can I take lighting fixtures, doors, copper plumbing, the furnace, etc.?
0 votes Share Flag Mon Aug 5, 2013 Foreclosure in 48170
Confusedrent…, Renter in Arlington, MA
Confusedrenter asked:
How do I find out if the house I'm renting is now bank owned or if it is still actually owned by who I ... I rented a place on Sept 1st, 2010 and received an email on September 27th from ... the house was up for auction. She then had informed us that the bank took it off of the auction block ...
0 votes Share Flag Wed Jul 3, 2013 Foreclosure in Arlington
donnaattusca…, Home Buyer in Boynton Beach, FL
donnaattuscany asked:
r can i short sale my home it is 80/20 and what are my consequences if does not sell in 2013 or i am n ... property value is about 60-70 thousand maybe160 1st mortgage about 30 the second mortgage.
0 votes Share Flag Wed May 15, 2013 Home Selling in 33437
Lbarill, Home Seller in California
Lbarill asked:
lf a home forecloses with a 2nd lien of 330k from original seller, can 2nd garnish my wages Home is in Simi Valley CA. 1st lien holder is Indymac, 2nd is previous homeowner. l make over 100k ann ...
0 votes Share Flag Thu Nov 8, 2012 Foreclosure in Simi Valley
elgordo, Home Buyer in Denver, CO
elgordo asked:
If I am the second note holder in a foreclosure, how likely am I to successfully bid and buy the property? ... I am one of three note holders on a property that is in the process of foreclosu ... " likely to outbid me, considering that is more than they are owed? If "Bank C" does outbid me, do I ...
0 votes Share Flag Sun Aug 12, 2012 Foreclosure in Denver
Voices Member,  in
Voices Member asked:
Can a 2nd lien holder Foreclosure (worth $50k), when homeowner owes $400K on the 1st and home is only wort ... I have a friend that recently received a Foreclosure Notice from a 2nd on his ho ... -off the $400K! Isn't that true? I haven't encountered a second lien holder foreclose on a ...
0 votes Share Flag Thu Jun 28, 2012 Foreclosure in Whittier
Citybuddha, Home Buyer in Denver, CO
Citybuddha asked:
We were under contract on a house. We had inspections done and then found out the seller doesn't have the ability to sell, based on a lean. Opinion? They had set a sell date that has passed AND dropped us out of contract ... never had the ability to sell the house. Obviously, we wouldn't have any inspections if we couldn ...
0 votes Share Flag Fri Dec 23, 2011 Home Buying in Denver
Goldfish, Home Buyer in 95111
Goldfish asked:
Short Sale - Home With 2nd Loan; Pay it off for them? In what seems to be a never ending search for a home, we've come across a s ... they'll sell it to us if we pay off their 2nd loan ($20,000). Our agent isn't helpful; she ...
0 votes Share Flag Mon Dec 12, 2011 Home Buying in San Jose
T-lauren, Home Buyer in Los Angeles, CA
T-lauren asked:
Is it common to be asked to help pay off the seller's liens in a short sale? There are 2 loans on the property we are trying to purchase. We have to get an a ... helps to pay off some of the second loan. The second loan is for $90,000. The 2nd loan is saying ...
0 votes Share Flag Thu Aug 4, 2011 Home Buying in Los Angeles
Dwyniceward, Home Buyer in Phoenix, AZ
Dwyniceward asked:
Will the bank foreclose on my condo loan if my 1st lien is current and the 2nd is not? Note 1: My 1st & 2nd liens with the exact same bankNote 2: Comparable condos in my complex are selling for 60% less than what I owe the bank
0 votes Share Flag Sun May 22, 2011 Foreclosure in Phoenix
Diane Wheatl…, Real Estate Pro in Rancho Cucamonga, CA
HiYes they can. They are not foreclosing only collecting on their debt. The ... securing the second to the property. They would have to pay off the first to foreclose but they can persue ... Read more
Blogged Sat Aug 7, 2010 by Diane Wheatley, Broker Foreclosure
Tiffany, Other/Just Looking in Riverside, CA
Tiffany asked:
In a Short Sale, will the banks come after me later to collect the shortage or will I be forgiven and be able to move on like a foreclosure? Just wondering what's better, a short sale or a foreclosure. What would be ... short sale if they still try to collect. ...
0 votes Share Flag Wed Sep 15, 2010 Foreclosure in Riverside
Peter Middle…, Real Estate Pro in San Diego, CA
Foreclosure is a fairly well-understood process, but as short sale signs sprout ... a loss as it might if it forecloses on the property.Before you even start considering getting ... Read more
Blogged Sun Jun 6, 2010 by Peter Middleton Home Buying
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Peter Middle…, Real Estate Pro in San Diego, CA
There are too few active buyers in the real-estate market these days – bu ... financial loss, but perhaps not as large a loss as it might if it forecloses on the property.Before you ... Read more
Blogged Fri Apr 30, 2010 by Peter Middleton Home Buying
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