[Dean R]

a foreclosure sale does that stop a lawsuit by them? My residence was foreclosed and sold at auction. I had a 1st and 2nd mortgage. The home was sold for a little more than what was owed on the 1st mortgage. I do not know if the 2nd mortgage holder received a dime. I contacted an attorney before the sale and he said that in his 30 years of practice he has only seen one time that the 2nd mortgage holder filed a lawsuit. I figured that since we are in a foreclosure climate they probably won't come after me. I am now wondering if I do get the 1099 that they are forgiving the debt and that frees me from a lawsuit. It would certainly relieve some stress even though I would owe tax.

[sharonsky368]

there is this great article that can teach you everything you want to know about mortgages and all that informationtake a lookeit saved me plenty of money with my second home last month.