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Can 2nd mortgage company sue after foreclosure on first?

Posted on: 15th Sep, 2008 04:27 pm
I had a first and a second mortage on my house which went into forclosure. the first got their money. The second is coming after me for theirs. Can they sue me? Can they put a lein on other property that I own? I got a written letter from an attorney that the 2nd mortgage company retained stating that the amount due must be paid in 30 days or there would be further legal action. What can they do to me??
hi mellin!

welcome to forums!

the second mortgage lender has the rights to sue you for the balance amount resulting from the property sale. you're liable for paying it off. rather than filing bankruptcy, it would be better if you could let the lender know about your financial situation and negotiate for an affordable payment plan. if you do not pay the dues, the lender can file a lawsuit against you and get a judgment to garnish your wages.

feel free to ask if you've further queries.

Posted on: 07th Oct, 2010 02:07 am
i live in minnesota i haven't payed a house payment for 6 months , my wife is disabled and i can't afford my payments, the bank wont help me what can i exspect to happen to us,,,hi refied 3 times to try to keep up can they sue me
Posted on: 29th Nov, 2010 11:13 am
Hi Guest!

Welcome to forums!

As the payments have not been made, the lender has the rights to foreclose the property in order to recover the dues. After foreclosure, you'll be liable for paying the deficient balance resulting from the sale. If you're unable to pay off the balance, then the lender can sue you in court and place a lien on any other property that you own.

Feel free to ask if you've further queries.

Posted on: 29th Nov, 2010 10:40 pm
My husband and I had a home in Vacaville. We refinanced and the loan isonly in my husbands name. Almost 3 years ago we had to walk away as I was transferred through work to San Jose. WE were not allowed to rent the house and the house was upside down. We have not been approached by the first but got a summons from an attorney on the second. They did not serve my husband. They left it at the house with someone else. Any advice? :?:
Posted on: 06th Dec, 2010 04:34 pm
hi mariadaluz!

welcome to forums!

the second lender has the rights to recover his dues from you. he will not forgive your second mortgage. you will have to give a reply to the summons and try to pay off the dues. if you don't do so, the lender will charge off the mortgage which will have a negative affect on your credit report and reduce your scores.

feel free to ask if you've further queries.

Posted on: 07th Dec, 2010 12:00 am
can a 2nd mortgage sue you if they did not file a deficiency judgement in oklahoma
Posted on: 28th Apr, 2012 02:23 pm
Welcome Guest,

As far as I know, non-judicial foreclosures are also allowed in Oklahoma. So, I guess the lender can ask you for the deficient balance even though he hasn't filed any lawsuit.
Posted on: 30th Apr, 2012 12:08 am
can a collection company do anything to your credit etc.if the 1st mortgage was foreclosed and the second sol date has passed in the state of georgia?
Posted on: 29th Aug, 2013 04:11 pm
Hi tiny,

If the SOL period is over, then the collection agency cannot take any legal actions to recover the dues. However, the negative item will remain mentioned in your credit report for 7 years.
Posted on: 29th Aug, 2013 09:42 pm
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