Asked by Carolyn Boyle, Hanover, PA • Sat Jun 12, 2010
A friend of mine gave up her home with a deed in lieu of foreclosure. The home subsequently went to foreclosure and is listed-- and now under contract- with another Realtor. She is moved out and thought that was the end of that-- then just got a demand notice from a second mortgage company for 57,000! I told her to see advice from a real estate attorney. What happened there? Wouldn't the banks have searched out liens and put that on the foreclosure as well? What happens if/when it goes to settlement with the potential buyer?
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