Home     Law Advice     Insurance Advice     Community    
Go Back   FreeAdvice Legal Forum > REAL ESTATE LAW > Mortgages, Refinancing & Foreclosure
Reload this Page 2nd Lienholder Foreclosure

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 07-24-2008, 03:03 AM
Junior Member
  
Join Date: Jul 2008
Posts: 4
Question

2nd Lienholder Foreclosure

What is the name of your state (only U.S. law)? CA

If a property that has two lienholders and the borrower keeps the first current while defaulting the second, then will the second foreclose eventually?

If that is true, does the second lienholder have to pay the balance due to the first lienholder?

In this scenario, can the second lienholder still be considered a Sold Out Junior Lienholder?
  #2  
Old 07-24-2008, 05:43 PM
Senior Member
  
Join Date: Jan 2003
Posts: 19,140
Quote:
Originally Posted by crei357 View Post
What is the name of your state (only U.S. law)? CA

If a property that has two lienholders and the borrower keeps the first current while defaulting the second, then will the second foreclose eventually?

If that is true, does the second lienholder have to pay the balance due to the first lienholder?

In this scenario, can the second lienholder still be considered a Sold Out Junior Lienholder?
Yes.

Yes.

If they FC and pay off the first, they are no longer a Jr Lienholder. They are the owner.
__________________
Adoptive parents ARE "real" parents. Sharing genes is not what makes you a "parent"!
  #3  
Old 07-24-2008, 06:04 PM
Junior Member
  
Join Date: Jul 2008
Posts: 4
Smile
Thanks nextwife!
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 08:43 AM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.