OK, I have been renting a home for the past two years. The homeowner has filed bankruptcy and the case was granted for the first and second mortgage. Now the 2nd mortgagor has filed foreclosure for 14K. Will the second mortgage be able to have the house sold if the foreclosure is granted? The first mortgage has the greater interest in the home for 104K.. but has not taken any action yet.

I don't understand how a 2nd mortgage can override the first mortgage? Help.. by the way, the owner of the home is a good person, just got caught up in the 'bubble of realestate". Additionally, the owner has provided me with a place to live, rent free until all this is over, which is really great-I think

A first, second, third... mortgage all have the right to foreclose on a property. At some point the subordinate lienholder may have to make the payments on the superior lien to protect their interest in the property. At times the second mortgagee may decide that the property is over encumbered, and chose not to go after the property. In those cases they will just sue the mortgagor on the basis of the note.