time frame of the second foreclosure

Guest

Does anyone know how long the second foreclosure is actually taking. Are the folks who lost the house originally brought back into the picture again?

I have been stumbling over packed boxes since April when we found out
our foreclosed house was going to have to go through the process again.

We have started looking again

jameshogg · Posted: Sun May 31, 2009 7:24 pm Post subject:

Hi Cheri,

If you had a second loan on your foreclosed property, then you're responsible to pay it off. If the property is foreclosed by the first lender and sold to someone, the second lender cannot foreclose the same property again. The second lender may either charge off the loan or garnish your wages to recover the dues.

I would suggest you to speak to your second lender and clear out the whole issue.

Thanks

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