Debt and Bankruptcy
Loans
Mortgages
Debt Collection
Foreclosure
Property Law
Money Management

What happens to the first mortgage if the second mortgage is in foreclosure?

User Avatar
Wiki User
2007-06-18 14:48:10

nothing...it remains a lien on the property and a debt which is

assumed by the successful bidder at the auction of the 2nd

mortgage


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.