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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Justin Kenne…, , Pollock Pines, CA
Thu Oct 28, 2010
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
Thaddeus Kuz…, Agent, Boston, MA
Mon Oct 25, 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
them.

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
Louis Wolfs…, Agent, Needham, MA
Sat Oct 9, 2010
Yes but they can't get blood from a stone, and foreclosure wipes out junior liens (not your obligations on them)
0 votes
FSBOsuccess, Home Seller, 28590
Fri Sep 24, 2010
You betcha. You can't just walk away from your obligations and responsibilities!
0 votes
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