Posted on: 17th Apr, 2009 10:46 am
We have a house in MN. The 1st mortgage is in my roomates name and the 2nd is in my name. I need to get out of the 2nd mortgage and the Mortgage Company is not working with us. What can happen in the state of MN if I forclose on the 2nd mortgage? Can Chase come after me and garnish my wages. 1st mortgage is $210,000 and 2nd is $80,000. Please advise what options are out there. Thanks.
I was wondering if MN is a recourse or non-recourse state and what that really means.