Compare Mortgage Quotes

Guest

hi i live in california my house was just foreclosed on and the bank is telling me i still have to pay the second. i have read a few letters withacouple of different answers. i owe 70k and im notplanning on paying it back can i get out of this without paying ,what should i do.

thanks, joe

leeelliot61 · Joined: 13 Sep 2009 Posts: 188 0.01 Dollars($)

You are supposed to pay back your second mortgage as well. They have every right to ask it.

you can discusss & negotiate with second mortgage lender.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

In state of califorina you do not need to pay the second when you foreclose if it was your primary residence

Normally, when the first lender forecloses, they will have to pay the second lender some money after the sale is done

leeelliot61 · Joined: 13 Sep 2009 Posts: 188 0.01 Dollars($)

your bank is asking you to pay second mortgage. you can not stop payment.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

lee ths house has been already foreclosed

The issue is more related to after foreclosure

Guest

im getting some good feed back but they are all differrent except for sunnyca99, i like your answer are you sure of it,mostly everyone is saying in supposed to pay it back.

can you tell me where i can find that information,

Thanks,
joe

Guest

my house has already been foreclosed, when i checked my acct it still showed the second so i called the bank and they told me im responsible too pay

smithsussane · Posted: Sun Oct 04, 2009 9:27 pm Post subject:

Hi joeallphase!

Welcome to forums!

As far as I know, though the first lender has foreclosed the property, you would still be liable for the second mortgage dues. If you do not pay the second mortgage dues, the lender would simply charge off second mortgage to a collection agency who will in turn collect the dues from you.

Feel free to ask if you've further queries.

Sussane

Guest

thanks sussane,

i noticed you live in alaska, sunnyca has explained that in california the rules are different and that im not responsible.

just making sure

thanks

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1