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johnlaszlo · Joined: 16 Nov 2009 Posts: 1 1.25 Dollars($)

Can a second mortgage forclose before a first mortgage?

gmakerley · Posted: Mon Nov 16, 2009 10:01 pm Post subject:

any lienholder who feels that a borrower has defaulted can begin a foreclosure action.

jenkin7 · Posted: Mon Nov 16, 2009 10:46 pm Post subject:

Hi johnlaszlo,

The second mortgage holder can definitely foreclose on your house since they hold a lien on the property. However, the primary lien from the first mortgage needs to be paid first. Whatever remains after paying off the first mortgage is used to pay off the second lien. Thus, if there is not much of equity in the property, it is unlikely that the second mortgage holder will foreclose on the property. However, it is completely up to your second lender whether they will go ahead with the foreclosure in such a situation.

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