Posted on: 17th Jan, 2012 04:58 pm
can a collection company garnish my wages for the second loan if the house goes into foreclosure.
they would have to first get a judgement against you.
Hi Guest,
I agree with the above poster. In order to garnish your wages, they will have to file a lawsuit against you and get a judgment. They cannot arbitrarily garnish your wages.
I agree with the above poster. In order to garnish your wages, they will have to file a lawsuit against you and get a judgment. They cannot arbitrarily garnish your wages.
the first mortgage would have the first position on the lien. so if the second mortgage company foreclosed on the property - they would sell the property and the sale proceeds must go to pay off the first mortgage company first. then, if there is anything left over, that money goes to the second mortgage company.
:idea:
:idea:
