Foreclosure and sale by 2nd / second mortgage holder, what happens now?
My second mortgage holder ( a private lender ) foreclosed on my home after months of not responding to requests for payoff instructions. Sale occurred over two months ago, yet the first loan on the property is still in my name. I haven't made the payments after the sale- Now this loan is in foreclosure as well and a notice of default has been posted... please help!
What happens with my first mortgage holder? Isn't the winning bidder required to pay them off? How can I be legally held responsible to pay the mortgage on a property that is no longer in my name? I've received an eviction notice and need help asap..
The foreclosure on the first mortgage now is going to hurt my credit even more, can this be legal>?
Thanks for your help!