Posted on: 21st Dec, 2010 11:57 am
why would a first mortgage holder buy or assume the (smaller)second mortgage when the property is already in foreclosure?
Perhaps because they want to foreclose without any other lender being involved in the foreclosure.
Another lender ties up paperwork and could actually refuse to foreclose
I do not really know, just using logic to answer.
Another lender ties up paperwork and could actually refuse to foreclose
I do not really know, just using logic to answer.