[lookingforanswers]

...sale date from the 1st mortgage holders foreclosure? I got a notice that my 2nd mortgage is foreclosing next week. I called the attorneys office that is representing them and they claim that the 2nd mortgage co can still foreclose after the sherffs sale date from my 1st mortgage since I am still in the redemption period. My home is worth about $110. I owed $95k on my 1st , and about 75k on my 2nd. By the time the attorneys fees, etc, are paid, they will likely not make anything after paying off my 1st mortgage. Are they really doing this, or are these just scare tactics? I would assume that since they posted the notice on my door, it must really be happening. I would really appreciate some advice from someone who is knowledgable on this. Thank you

[877YouKeep]

so you are saying the first mortgage company has started foreclosure and you are 2 weeks out from sale date? Now your second mortgage company is about to file foreclosure also? Not much of a scare tactic when the sale date is already set from the first. But the short answer is yes they can file for foreclosure if you have not been making payments. Based on the information presented there will not be any money left once the sale happens. The only thing I can see is a possible deficiency judgment or 1099 for the short. Why let them take the property contact us we can possibly help.

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