Loan Modification - Free Foreclosure Help - Help Stop Foreclosure » Help Stop Foreclosure - Loss Mitigation Help » Mortgage Forclosure » What happens to 2nd in a foreclosure when

Mortgage Forclosure The forum for everything related to Mortgage Forclosure

Short Sale    Loan Modification    Loss Mitigation Training    Short Sales Training
Reply
  #1 (permalink)  
Old 04-27-2008, 12:57 AM
Junior Member
 
Join Date: Apr 2008
Posts: 1
Default What happens to 2nd in a foreclosure when

the 1st mortgage is not even satisfied on a sale? The first will be short by 75,000 and the second will be short by 200,000 which is the balance on the 2nd.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
  #2 (permalink)  
Old 04-27-2008, 10:19 AM
Senior Member
 
Join Date: Jul 2007
Posts: 692
Default foreclosure on second mortgages

Many times a servicer (ie mortgage company) sells a second after 180 days delinquent to a third party collector. The collector many times comes after you for the balance of the second or mortgage companies also have the right to file a deficiency judgment against you for the shortage. Fill out a form with 877YouKeep.com we are starting to work with investors and real estate agents to help with short sales. We do not work short sales but we can get you in touch with someone that is qualified to help. Do not get a deficiency judgment sell your home and walk away.

To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On




All times are GMT -4. The time now is 03:37 PM.
Powered by vBulletin® Version 3.6.7
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd. Free Foreclosure Help