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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Jr. bene's can cure the senior delinquency Posted by Ward-CA- on December 26, 2001 at 4:54 PM In Reply to: priority of liens posted by mark on December 26, 2001 at 8:39 AM : Mr. Ward, If a person is keeping payments current on a second mortage but not the first, and the first forecloses, how does the second not get screwed? Does the first have an obligation to notify the second? or does he (the second) have to keep up with monthly foreclosure lists and make sure he's at the court house steps if one of his properties is on the list? Thanks =?=?=?=?=?=?=?=?=?=?= Mark, foreclosure procedure requires the foreclosing trustee, attorney or sheriff (depending on jurisdiction) to notify any and all parties adversely affected by the foreclosure they are processing on behalf of the lender. Since the 2nd in your scenario above is getting separate notice of the foreclosure from the 1st, they can cure the delinquency on the 1st and, under the theory of advances, require an immediate reimbursement from the property owner under threat of foreclosure. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Mr. Ward, If a person is keeping payments current on a second mortage but not the first, and the first forecloses, how does the second not get screwed? Does the first have an obligation to notify the second? or does he (the second) have to keep up with monthly foreclosure lists and make sure he's at the court house steps if one of his properties is on the list? Thanks : =?=?=?=?=?=?=?=?=?=?= : Mark, foreclosure procedure requires the foreclosing trustee, attorney or sheriff (depending on jurisdiction) to notify any and all parties adversely affected by the foreclosure they are processing on behalf of the lender. : Since the 2nd in your scenario above is getting separate notice of the foreclosure from the 1st, they can cure the delinquency on the 1st and, under the theory of advances, require an immediate reimbursement from the property owner under threat of foreclosure. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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