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bankruptcy and second mortgage

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J

juniper2

Guest
My state is NM

Hi, I am writing in regard to a second mortgage I had. 3 years ago we filed bankruptcy and decided to keep paying on our first mortgage. But we told the second mortgage holder (the money store) that if they wanted the house they could go ahead and foreclose. Our house was worth $66,000.00 and we owed probably $8,000.00 on the second. They hounded and hounded until our lawyer told them they could forclose... It has been 3 years and we haven't heard anything from them. In fact, we recently sold our house and bought a new one. Can they still come back and get us? Thanks,

juniper2:confused:
 


H

HomeGuru

Senior Member
juniper2 said:
My state is NM

Hi, I am writing in regard to a second mortgage I had. 3 years ago we filed bankruptcy and decided to keep paying on our first mortgage. But we told the second mortgage holder (the money store) that if they wanted the house they could go ahead and foreclose. Our house was worth $66,000.00 and we owed probably $8,000.00 on the second. They hounded and hounded until our lawyer told them they could forclose... It has been 3 years and we haven't heard anything from them. In fact, we recently sold our house and bought a new one. Can they still come back and get us? Thanks,

juniper2:confused:

**A: how much was your first mortgage and what did your lawyer say happened to the second mortgage?
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J

juniper2

Guest
My first mortgage was 53 thousand and the second was for 8 or 9 thousand. Basically at that point we didn't care and we told them that if they wanted the house to take it. We never heard from them again. Our lawyer said to just wait it out and maybe the stature will fall into play.
 
H

HomeGuru

Senior Member
juniper2 said:
My first mortgage was 53 thousand and the second was for 8 or 9 thousand. Basically at that point we didn't care and we told them that if they wanted the house to take it. We never heard from them again. Our lawyer said to just wait it out and maybe the stature will fall into play.

**A: review your closing statement (HUD-1) and see if the second mortgage lender got paid off. They probably got paid off. If not, they must have signed off to release their mortgage so you could close on the sale.
Click to expand...
 
J

juniper2

Guest
thanks for the help. I'll check on that and you have a nice day:)
 
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