If a non judicial foreclosure takes place, is the borrower still responsible for a second mortgage on that property?

Attorney answers (1)

1. 

   Timothy McFarlin

   Irvine Foreclosure Attorney

   Contributor Level 12

   1

   Helpful vote

   Answered January 26, 2010 05:05. Typically yes. A foreclosure on the first mortgage does not satisfy the second, and the second lender can still go after the money owed under the contract. You might talk to a local bankruptcy and foreclosure attorney to find out what options you may have. This is a very common situation and there are solutions, but each state is different. Good luck.

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