---

Mortgage Foreclosure in Massachusetts

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
Dangers Guest	Posted: Tue Feb 08, 2011 6:33 pm    Post subject: Mortgage Foreclosure in Massachusetts Like 0 Dislike 0 Mass. If both 1st & 2nd mortgages are held by the same bank and the 1st has been foreclosed and the 2nd is written off. They wrote it off just before filing the foreclosure papers at the registry of deeds only on first. Then sold the property exactly 30 days later for $20,000 less than both mortgages. Then 4 months later they added the 2nd mortgage back and sold it to a collection company. Can they do that legally in MA??? Thank you, for any help. Deb _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Tue Feb 08, 2011 8:48 pm    Post subject: Like 0 Dislike 0 Hi Guest, The second mortgage and the deficient balance from the first loan can be charged off and assigned to a collection agency. The collection agency can come after you in order to collect the dues. Thanks
Dangers Guest	Posted: Wed Feb 09, 2011 3:35 pm    Post subject: Mortgage Foreclosure in Massachusetts Like 0 Dislike 0 The only deficient balance would be on the 2nd, because they paid off the 1st. The 2nd was written off. In Massachusetts the bank can not get a deficiency judgement for the balance of the 2nd. From what I can see, the bank wrote off the 2nd only so they could sell the home without any liens on it.

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0