Posted on: 30th Oct, 2010 02:12 pm
arizona: if i stop making payments on my first & second mortgage, and the house forecloses, can the second mortgagor come back for collection? this is an originating 80/20 loan and no money was ever taken out of the heloc (2nd) for anything and the heloc was only used to finance the original mortgage.
Welcome Guest,
As far as I know, Arizona is an anti-deficiency state and the lender won't be able to come after you to collect the deficient amount as yours is an 80/20 loan.
As far as I know, Arizona is an anti-deficiency state and the lender won't be able to come after you to collect the deficient amount as yours is an 80/20 loan.