default: Unsecured Second Trust Deed default, First Trust deed current - foreclosure question - 01/18/09 02:04 PM
Good afternoon world !
The title says it all. We all should have a pretty good idea of what happens when a first forecloses and the second is left unsecured - the second looses out and can go after the promissory note signor on for a personal judgement for the outstanding balance owed to the second plus all reasonable and legal expenses and associated fees.
The question I am posing to the community, as this seems to be a buzz in residential default world, is to stop paying on the second and keep the first current, if possible.
Folks are doing whatever … (16 comments)

 
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Evelyn Ashley Grimes

Henderson, NV

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Diversified FIRST Realty

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