If you are up and current on your 1st mortgage and your 1st mortgage is 75% of your homes value, can a second mortgage with only %25 of value foreclose on you and obtain the property?
I know they can lien against the home, but not quite sure on the actual obtaining the property.

A house is being foreclosed and posted in the news paper. I did a title search and the current foreclosure is for the second mortgage. Does anyone now what happens to the first loan. If I bid and won would I get the house.

I was under the impression only the first lender had the right to sell the house to secure their money and the second lender was left to fend for themselves / take it up personally with the borrower. I am confused as to why the foreclosure of the second mortgage is in the paper.

Thanks for any help.

I have a first and second mortgage on my home. The first mortgage is in forclosure. What is the obligation of the second lender. Is he obligated to pay his portion of the second mortgage and then forclose and then recoop his money? Or does the home just go into forclosre and then go to auction if not brought current on time.
Is the second under any obligation to bring the loan current or is it there choice?

I’m planning to relocate, but current owe a mortgage for $50k. I also have a bankruptcy on my record thats a couple of years old. I’d like to find new home in the state I choose to live in. Would I be able to get a second mortgage or refinance my current home in order to pay for a new one?

I have two properthy. On one property I have two mortgage lender. If I were to forclose on my house, can the lender from a second mortgage put a lean on my current house?

I am current on my first mortgage, but about 2 months late on my second. Can the second mortgage foreclose on my home if I am current on the first?