Posts

What Happens To The 2nd Mortgage?

mashby profile photo
  • Monday, February 06, 2006 @ 05:42 PM EST
  • 2 Comments
If a forclosure sale has 1 or more junior mortgages. If you buy at the foreclosure sale on the 1st mortgage What happens to the junior mortgages? Do you as the new home owner become obligated to pay those off?
  • (2) Comments
  • Score(0)

Comments(0)

  • jllaco
    jllaco26th January, 2006
    0
    Reply

    they fall off. If the third forclosed, then you would be responsible for everything senior to it, ie. 1st and 2nd

  • jsd2
    jsd26th February, 2006
    0
    Reply

    sorry radio 52,
    I see you answered my question on my other topic, thanks!

Please Sign In to Comment.