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.

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1 Lawyer Answer
Answered
  • 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.

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