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Updated over 4 years ago on . Most recent reply

Nicolas Biangel's profile image
Nicolas Biangel's profile image
Nicolas Biangel
  • Specialist
  • from covington, ga
  • Member since Jul 18, 2019
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Nicolas Biangel's profile image
Nicolas Biangel's profile image
Nicolas Biangel
  • Specialist
  • from covington, ga
  • Member since Jul 18, 2019
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Nicolas Biangel
  • Specialist
  • covington, ga
15
Votes |
60
Posts
Foreclosures

Foreclosure Question re: 2nd Mortgages

Nicolas Biangel
  • Specialist
  • covington, ga
Posted

In reading Bidding to Buy it didn't quite specify the answer to this question: when buying the first mortgage does that eliminate the second mortgage or HELOC or do I have to factor it into my analysis? Thank you in advance!

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    Travis M.'s profile image
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    Travis M.
    • Member since Apr 22, 2020
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    Travis M.
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    Travis M.
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    Travis M.
    Replied

    Nicolas, while the second mortgage is typically wiped by a first position foreclosure, you should check with your local real estate attorney. There is no one-size fits all.

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