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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Question on Recourse 2nd TD after 1st Forecloses Posted by notconor on March 24, 2008 at 7:55 PM Hypothetical question: After a 1st TD holder forecloses, does the 2nd mortgage lender have recourse on a Cash-Out loan if they DID NOT go thought the Trustee or Judicial foreclosure process? I have seen a 2nd mortgage company not to issue a NOD or go thought with a Judicial foreclosure on a home owner. The first mortgage did issue a NOD via the Trustee Sale and did foreclose on the home. Now does the 2nd TD holder have recourse on the borrower, or do they still need to go through with a Judicial foreclosure after the 1st trustee sale? -NotConor Follow Ups: Yes - they get their 'One Action' Troy 7:23 AM, 03/25/08 (4) Re: Yes - they get their 'One Action' Paul J. Molinaro 10:41 AM, 03/26/08 (3) Paul, what do you think? steve 9:19 PM, 03/26/08 (0) Re: 1099 cancels debt? Question 9:17 PM, 03/26/08 (1) That issue alone, No (NT) Tom 7:05 AM, 03/27/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hypothetical question: : After a 1st TD holder forecloses, does the 2nd mortgage lender have recourse on a Cash-Out loan if they DID NOT go thought the Trustee or Judicial foreclosure process? : I have seen a 2nd mortgage company not to issue a NOD or go thought with a Judicial foreclosure on a home owner. The first mortgage did issue a NOD via the Trustee Sale and did foreclose on the home. Now does the 2nd TD holder have recourse on the borrower, or do they still need to go through with a Judicial foreclosure after the 1st trustee sale? : -NotConor [ 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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