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Guest

Hello,

I had a home in El Paso, Tx. My second mortgage foreclosed and the house was sold and the new owners moved in. But there was still the first mortgage. The new owners are making payments on that mortgage in my name and have not changed the loan to there name. They are late on payments and the Mortgage company is calling me and sending letters to me saying that I am late with my payments. I have explained to them several times that I no longer have that home, I was evicted by a court order. Am I still responsible for this loan or is the new owners responsible. And who actually owns the home, them who got the house through the second mortgage or is the house still technically my house.

Thank you in advance for any information you could give me on this matter.

Dwaine

jameshogg · Posted: Tue Dec 02, 2008 9:43 pm Post subject:

Hi dwaine,

I think you should first contact the first mortgage lender and inform them about your situation. Also inform them that you were evicted from the property. As the new owners of the property are paying the first mortgage on your behalf, ask them to refinance the property and remove your name from the mortgage.

As far as owning the house is concerned, it is the new owners who own the house but as the first mortgage is still in your name, thus you will liable for the payments.

Thanks

Guest

I am in the same situation and the lender with the first will not help me, should I contact a lawyer or who can help me?

Guest

What's your exact situation like? Have you talked to the lender regarding an alternative payment plan?

Guest

The 2nd foreclosed and the Deed is now in their name they were a hard money loan. They have rented the house out and they are making the payments on the first. I contacted GMAC, the 1st mortgage holder and they said their was nothing they could do.

adonis · Posted: Sat Feb 14, 2009 1:35 am Post subject:

Hi Georgina,

If the second mortgage company is making the payments on the first then it's good for you. What do you want the first mortgage lender to do? If you can explain it then it will be easier for me to answer your query.

Guest

I am in a position to purchase a new home but the lender will only approve me for the new loan if the current mortgage (1st) is not in my name anymore. I need the 2nd lien holder to get their own loan and pay my loan off.

jameshogg · Posted: Wed Feb 18, 2009 11:15 pm Post subject:

Hi Georgina,

Your question is not very clear to me. If you want to remove your name from the first loan, then the other person on the mortgage doc will have to refinance the loan in his/her name. This will remove you from the mortgage.

Thanks

Guest

I spoke to a lawyer and here in CA, the 2nd Lien holder can keep making the payments on the first while leaving the first in my name and as my financial responsibility. The first can remain in my name and on my credit report until the property is sold. This is totally legal. I have no recourse.

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