Re: 2nd mortgage sold at auction. Buyer can't buy out first mort

Posted by Grace on December 04, 2002 at 12:54:38:

In Reply to: Re: 2nd mortgage sold at auction. Buyer can't buy out first mort posted by Jim V on December 02, 2002 at 23:21:49:

Then, does the new second mortgage owner loose the amount of money he had paid for the second if the first is auctioned off without any overages? In another word, the second mortgage owner does not get anything plus he had lost his investment on the second mortgage?

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• Re: 2nd mortgage sold at auction. Buyer can't buy out first mort - Michael - Illinois 05:10:01 12/05/02 (0)

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: Then, does the new second mortgage owner loose the amount of money he had paid for the second if the first is auctioned off without any overages?  In another word, the second mortgage owner does not get anything plus he had lost his investment on the second mortgage?


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