Legal Question in Real Estate Law in North Carolina

Foreclosure

I have a second mortgage and I'm 2 payments behind, they are threatining forclosure but I have a first mortgage also ,

My question is can the second mortgage take my house away from me & my first mortgage?

Please hurry...


Asked on 7/29/05, 4:13 pm

1 Answer from Attorneys
Michael Elliott Elliott Law Firm, PC

Re: Foreclosure

The second mortgage holder is entitled to foreclose and take the property from you. The rule is that when a lien holder forecloses on property it extinguishes every lien below it. In your case the second mortgage holder can foreclose, but the first mortgage holder is still in place.

Should you wish to call me - you can reach me at (704) 947-3838. You may visit my website at www.elliottlawfirm.net.

Good Luck!

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Answered on 7/29/05, 4:29 pm


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