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Home sold due to foreclosure - Am I liable for second loan?

Posted on: 25th May, 2006 12:25 pm
i had a second mortgage on a rental property that i lost to foreclosure. the company with the first mortgage sold the house to satisfy the first mortgage, and there was nothing left over. am i still legally liable for the second mortgage?
Samantha, what happens if the first and second mortgages are owned by the same lender. Am i still liable for the second mortgage?
Posted on: 21st Oct, 2010 06:51 pm
Welcome dago,

Though the first and the second mortgage is held by the same lender, you'll be liable for paying the second loan after the property is sold off at an auction.
Posted on: 21st Oct, 2010 11:03 pm
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