Posted by Tom Brown on March 15, 1999 at 20:31:26:
The odds are that the junior lien holder cured the default on the first lien and started proceedings on its second lien.
Jr Mortgage - Foreclosure - Posted by BR2
Posted by BR2 on March 15, 1999 at 17:17:15:
I’ve been following foreclosures in my area for the past 6 months. Today I noticed a home that was foreclosed in November (Sr Mortgage) and it’s being foreclosed again.
If the senior mortgage foreclosed in November doesn’t that wipe out the junior? Is it possible that the junior mortgage holder ‘slept’ the November foreclosure?
Any thoughts?