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Old 07-28-2009, 11:51 PM
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Default I sold property in Florida, hold 2nd Mortgage

for buyer, 1st mortgage filed foreclosure! My credit is ruined? I sold property in Florida and hold the 2nd mortgage for deadbeat buyers that going into this was not told they had bad credit.Now 1st mortgage holder who is a private party (not a bank) has filed foreclosure against buyer. His attorney and the attorney I used in closing the loan told me that it would go on my credit as foreclosure and I have perfect credit. How could this be? I am not the buyer, I am the seller and I never agreed to pay the 1st mortgage
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