Posted on: 09th Oct, 2013 02:18 pm
i assumed the 1st position of my brother n law's residence and now the 2nd (whom disappeared for 3 years) has started foreclosure on my brother. The amount she references is for the 2nd amount and does not reference the amount I am vested for. Public auction is set and she believes she is going to foreclose and evict him and pay me payments monthly for my amount or she will just stay there until I legally take action. I understand she can foreclose; can she "legally" evict if she leap frogs the 1st? Also read about a "deficency judgement" ; does that apply?
Hi Granny!
Welcome to the forums!
If you have the first loan on the property, then you will have the first rights to recover the money. Even if she sells off the property through a foreclosure, you will have to be paid off first. If she does not do so, you can take legal actions against her.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
If you have the first loan on the property, then you will have the first rights to recover the money. Even if she sells off the property through a foreclosure, you will have to be paid off first. If she does not do so, you can take legal actions against her.
Feel free to ask if you've further queries.
Sussane