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sveenziebell · Joined: 03 Jan 2009 Posts: 4 2.05 Dollars($)

can any one tell me how or where i can find how a foreclosure on a 2nd mortgageis done . does the 2nd mortgage company buy out the first mortgage

jameshogg · Posted: Tue Jan 27, 2009 9:31 pm Post subject:

Hi sveenziebell,

The second mortgage lender will foreclose the property when you default on their payments. As there will be a first loan, the second lender will have to satisfy the first lender's loan. Yes, the second mortgage company can buy-out the first lender.

Thanks

Samantha · Posted: Wed Jan 28, 2009 3:25 am Post subject:

Hi,

The second mortgage company can buyout the first if the former wants to foreclose the property. The second lender has to pay off the first and then carry out a foreclosure.

By the way, let us know more about your situation. Perhaps we can come up with even better suggestions.

May god bless you.

Samantha

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2nd mortgage foreclosures