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    in foreclosure's Avatar
    in foreclosure Posts: 2, Reputation: 1
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    #1

    Jan 22, 2009, 08:56 AM
    2nd mortgage foreclosure
    Can a lender in second lien position (heloc) foreclose on a mortgage when the lender in first lien position has not foreclosed? If so, do I have to vacate the property if the first lien holder has not foreclosed?
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #2

    Jan 22, 2009, 09:28 AM

    Foreclosure law varies from state to state. It may be a part of the lender's collection (harassment) technique. It may be something the lender does before paying off, and taking an assignment of, your first mortgage; then foreclosing on the first mortgage. As you know, an unpaid note just gets bigger and bigger, so try to find a way to stay current. I don't believe the second lien holder can force you out because, as you suggest, the first lien holder has a superior position.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Jan 22, 2009, 09:31 AM

    You also need to read your contract with the holder of the second.
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