Posted on: 05th Apr, 2009 10:43 am
I hold a 2nd mortgage on a house I sold (to the mortgage holder) long ago. The 2nd mortgage has been delinquent for a long time. Now they have lost the home to foreclosure on the first mortgage. We are governed by Wisconsin laws.
Is there anything I can do to continue to demand payment?
Thanks for any advice you can give me.
Is there anything I can do to continue to demand payment?
Thanks for any advice you can give me.
hi ds_shopping!
welcome to forums!
as a second mortgage lender, you can definitely demand your dues from the borrower. you will have to contact the borrower and ask him/her to pay off the dues. you will also be able to place lien on his or her other properties. however, for that you need to file a lawsuit in the court and get a judgment.
feel free to ask if you have further queries.
sussane
welcome to forums!
as a second mortgage lender, you can definitely demand your dues from the borrower. you will have to contact the borrower and ask him/her to pay off the dues. you will also be able to place lien on his or her other properties. however, for that you need to file a lawsuit in the court and get a judgment.
feel free to ask if you have further queries.
sussane