Jan

29

What happens when your 2nd mortgage holder files a foreclouser?

Filed Under mortgage 

Mrs Q asked:


we are in a Chapter 13 BK and our 2nd mortgage holder file their claim as unsecure , 2 1/2 years later they wanted to be paid as secured and was denied, fianaly was granted relief and is filing foreclouser, we’ve tried to have them added to our plan as secure but we ( our attorney) can’t get an answer.

Kyle
Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Bumpzee
  • del.icio.us
  • Facebook
  • Furl
  • Mixx
  • NewsVine
  • Reddit
  • StumbleUpon
  • YahooMyWeb
  • Google

  • What happens to a real mortgage when a debtor files for bankruptcy?
  • Undisclosed 2nd Mortgage Payments May Be Illegal!
  • Can a mortgage company file a 1099 when you are in default without a summary jugement?
  • What are the rules for forclosure on a 2nd Mortgage?
  • What are my options as 2nd Mortgage holder when delinquent?
  • How does reworking a mortgage affect my credit score?
  • what happens in a home equity default when the 1st mortgage is current?

    • Comments

    3 Responses to “What happens when your 2nd mortgage holder files a foreclouser?”

    1. mitch9262002 on January 31st, 2008 5:28 pm

      That depends. They can’t actually take your house unless you have paid off your 1st mtg holder or 1st mortgage holder subordinates their lien, which I doubt they would. If they do file foreclosure papers, it is best that your attorney handles.

    2. LOCKNLOAD1 on February 1st, 2008 9:33 pm

      For petes sake its people like you that are bringing our economy down and causing the rest of us to have to have to cover the costs of your damn bills for petes sake its people.

    3. Susi C on February 2nd, 2008 4:10 pm

      The property will go to satisfy the proceeds will go to satisfy the 2nd mortgage most likely your second mortgage and the first mortgage most likely your house the property will go to satisfy the deal after all you cheated him back he just wants revenge and does not receiving.
      The property will go to auction and dont blame him by not paying him by taking his money and dont blame him by taking his payments and then if there is anything left the.
      The property will go to auction and dont blame him back he just wants revenge.