Posted on: 03rd Oct, 2009 10:32 am
hi i live in california my house was just foreclosed on and the bank is telling me i still have to pay the second. i have read a few letters withacouple of different answers. i owe 70k and im notplanning on paying it back can i get out of this without paying ,what should i do.
thanks, joe
thanks, joe
you are supposed to pay back your second mortgage as well. they have every right to ask it.
you can discusss & negotiate with second mortgage lender.
you can discusss & negotiate with second mortgage lender.
In state of califorina you do not need to pay the second when you foreclose if it was your primary residence
Normally, when the first lender forecloses, they will have to pay the second lender some money after the sale is done
Normally, when the first lender forecloses, they will have to pay the second lender some money after the sale is done
your bank is asking you to pay second mortgage. you can not stop payment.
lee ths house has been already foreclosed
The issue is more related to after foreclosure
The issue is more related to after foreclosure
im getting some good feed back but they are all differrent except for sunnyca99, i like your answer are you sure of it,mostly everyone is saying in supposed to pay it back.
can you tell me where i can find that information,
Thanks,
joe
can you tell me where i can find that information,
Thanks,
joe
my house has already been foreclosed, when i checked my acct it still showed the second so i called the bank and they told me im responsible too pay
Hi joeallphase!
Welcome to forums!
As far as I know, though the first lender has foreclosed the property, you would still be liable for the second mortgage dues. If you do not pay the second mortgage dues, the lender would simply charge off second mortgage to a collection agency who will in turn collect the dues from you.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I know, though the first lender has foreclosed the property, you would still be liable for the second mortgage dues. If you do not pay the second mortgage dues, the lender would simply charge off second mortgage to a collection agency who will in turn collect the dues from you.
Feel free to ask if you've further queries.
Sussane
thanks sussane,
i noticed you live in alaska, sunnyca has explained that in california the rules are different and that im not responsible.
just making sure
thanks
i noticed you live in alaska, sunnyca has explained that in california the rules are different and that im not responsible.
just making sure
thanks