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Old 01-27-2010, 04:04 PM
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Default 2nd mortgage(HELOC) sold .. the

beneficiary(bank-Chase) bought back. Does the lender have the rights to evict? i owe the first 140k, the second 142k. I'm currently having the trial period (loan mod) with the first ( paying on time). However, the second loan was being auctioned off, and apparently the bank(beneficiary) bought back the loan. My question is whether if possible for the bank of the second to evict me from the home. I was told .. once the loan (deed of trust) was sold and bought back by the beneficiary .. now the bank own the property with the first deed of trust, and the second can still evict me from the property. Please let me know whether this is a possibility ?
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