Apple Valley, CA asked in Collections for California

Q: Can a bank collect on an a 2nd. after the first t. d. holder forecloses on the property? The same bank held both liens.

Related Topics:
1 Lawyer Answer
Terrence Jay Moore
Terrence Jay Moore
  • Santa Ana, CA
  • Licensed in California

A: Yes, they can because you still had an agreement with them. This doesn't mean you can not work a deal out with the second or bankrupt the debt. The other issue is if you have no debts that they can go after then let them sit. They can't take anything from you and after awhile they should settle for pennies on the dollar. If you get wages you must protect your wages. There are ways to do that.

If you like my comments PLEASE share my website.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.