Duty of Second Mortgage Holderl To First Holdr

[lulumint]

What is the name of your state? New York

My home has a first and second mortgage holder. The holder of the second mortgage has filed suit to foreclose. The holder of the first mortgage is owed approximately $190,000.00, while the holder of the second mortgage is only owed $22,900.00.

1. Does the second mortgage holder have an affirmative duty to contact the first holder and notify it of its intention to sue?

2. Can the holder of the second mortgage even file suit prior to the holder of the first mortgage?

3. Can the holder of the first mortgage stop the proposed suit by the second mortgage holder?

4. Please provide any other pertinent advice on this subject.

Thanks.

[FlyingRon]

Duplicate thread