West Palm Beach, FL asked in Foreclosure for Florida

Q: Property has been foreclosed on by 1st mortgage what rights does the second mortgage holder have? can they still collect

Property had 1st and 2nd mtg. Property was foreclosed on 7 months ago. Credit report shows second loan still open. What options and rights do 2nd mtg holder have and former property owner

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1 Lawyer Answer
Robert Jason De Groot
Robert Jason De Groot
Answered
  • Foreclosure Defense Lawyer
  • Deltona, FL
  • Licensed in Florida

A: The second mortgage was wiped off the slate as far as being a lien on the property, but they can still sue to try to collect upon it if payments are not made. Depending upon your circumstances, you might be able to file a bankruptcy to get all of that debt off of your shoulders.

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