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post foreclosure law suit: Second Mortgage Foreclosure Lawsuit Situation - Washington State Law - 10/30/09 04:38 PM
One of my clients just inquired about the following.  I consulted this with my local real estate attorney.
Situation:
The client had two mortgages on the house.  This were original purchase money loans.  NO refi or Heloc.  The client got foreclosed.  The second mortgage holder is now after the homeowner.  They are threatening law suit.  Can that happen?
Reply:
Oscar:
I do not believe there is any protection for "purchase money" mortgages in WA.
Here is the relevant portions of the statute.  There is no deficiency judgment if the elected remedy is a non-judicial trustee sale foreclosure and the sale is … (0 comments)

 
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Oscar Morante

Portland, OR

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Oscar Morante, Realtor and Short Sale expert interacts with all individuals seeking more knowledge in this fascinating field. The more you learn, the more you earn. Short sales is where most of the business is at. Sure it is a bit more work, but if you are good opportiny is abundant. Learn everything about short sales.


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