Login
Lender Signup
Community Signup

World's Largest Mortgage Community
(28,523 members)

What are you looking for?

Second mortgage

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
jimm1000 Joined: 16 Aug 2008 Posts: 1 1.27 Dollars($)	Posted: Sat Aug 16, 2008 1:15 am    Post subject: Second mortgage I have a second mortgage that is in arrears. Can they foreclose and take possesion of the property. Jim Brown Property is in ocala, FL
larry Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)	Posted: Sat Aug 16, 2008 1:41 am    Post subject: Hi Jim, Welcome to the forum. The second mortgage lender is also a secured lien holder. So he can also foreclose if don't pay the second mortgage. But generally if you are current on the first mortgage then the first mortgage lender will buy out the second mortgage lender and you will have to pay both of the mortgages to the first mortgage lender. Feel free to ask if you have any further questions. Best of luck, Larry
brian1 Community Experts Joined: 14 Jun 2008 Posts: 360 Location: Northern California 0.51 Dollars($)	Posted: Sun Aug 17, 2008 5:24 pm    Post subject: Simple answer yes they can and will. Especially if you have any equity int he home. Good Luck Brian _________________ Licensed Broker 50 states http://www.aimwithfocus.com Need quick advise email or PM Glad to help

Quick Reply
Your Name
Subject
Message body

All times are GMT - 7 Hours

Page 1 of 1