Posted on: 11th Jan, 2010 06:35 pm
Hi i have a 2nd morgage I lost the first morgage to forclosure if i dont pay the 2nd could they garnish my wages. or what could thay do
hi drmalisha!
welcome to forums!
though your property has been foreclosed by the first lender, the second lender has the rights to collect the dues from you. thus, if you do not make your payments, the lender has the rights to garnish your wages. however, for this, the lender will have to get a judgment against you from the court. the lender may even send the second mortgage to collections if you cannot pay it off.
feel free to ask if you've further queries.
sussane
welcome to forums!
though your property has been foreclosed by the first lender, the second lender has the rights to collect the dues from you. thus, if you do not make your payments, the lender has the rights to garnish your wages. however, for this, the lender will have to get a judgment against you from the court. the lender may even send the second mortgage to collections if you cannot pay it off.
feel free to ask if you've further queries.
sussane