Re: Whap happens to 2nd mortgage after foreclosure

Posted by NJDave on August 24, 2007 at 06:47:02:

In Reply to: Whap happens to 2nd mortgage after foreclosure posted by Stephonie on August 23, 2007 at 13:53:11:

When a senior lienholder forecloses, and the foreclosure completed, the junior lienholders' interests in the real estate are extinguished.

In most jurisdictions your personal promise to repay the debt survives the foreclosure. You should expect a call from the second mortgage lender asking for its money.

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