Legal Question in Real Estate Law in Nevada

Can a creditor holding a second mortgage foreclose if the primary loan is current?

Asked on 10/26/09, 3:50 pm

2 Answers from Attorneys

Paul Malikowski Malikowski Law Offices, Ltd.

Yes, but only in the event that the second loan is in default, and the default is one that permits the second mortgage holder to foreclose. Your attorney can explain further.

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Answered on 10/31/09, 6:45 pm

Jeffrey Cogan Jeffrey A. Cogan, Esq., Ltd.

Yes, as explained by Mr. Malikowski. If you are considering bankruptcy, a Chapter 13 will let you not pay the second and remove any right to foreclose (lien stripping). If that is something that you desire, you can email me for more details.

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Answered on 11/01/09, 11:30 am

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