help with foreclosure?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
help with foreclosure?
If your first mortgage holds the title to your home – can a second mortgage foreclose and auction the home and if you have some cash – who should you pay first?
Asked on July 3, 2009 under Real Estate Law, Massachusetts
Answers:
J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
I am a lawyer in CT and practice in this area of the law. A second mortgage can be foreclosed not withstanding a first mortgage ahead of it. However, the first mortgage will get paid out before the 2nd. I suggest that you try to work out some sort of deal with the 2nd mortgage where they agree to take less money. If you are going to pay anyone, i would take care of the first mortgage so there is more money for the second as the second is usually a small amount of moeny and usually will be more flexable in negotiating a deal than the first.
J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
I am a lawyer in CT and practice in this area of the law. A second mortgage can be foreclosed not withstanding a first mortgage ahead of it. However, the first mortgage will get paid out before the 2nd. I suggest that you try to work out some sort of deal with the 2nd mortgage where they agree to take less money. If you are going to pay anyone, i would take care of the first mortgage so there is more money for the second as the second is usually a small amount of moeny and usually will be more flexable in negotiating a deal than the first.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.