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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Legal
Satisfied Customers: 17883
Experience:  B.A.; M.B.A.; J.D.
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I live in Montana, I have a first mortgage on my residence

Resolved Question:

I live in Montana, I have a first mortgage on my residence with a bank and a 2nd mortgage with a different bank. The 2nd mortgagee foreclosed on the loan but the 1st mortgagee has not foreclosed and the 1st mortgagee has not been paid off by the 2nd mortgagee. Do I have the same rights as the 1st mortgagee? Can the 2nd mortgagee force me to vacate the residence even though the 1st mortgagee has not been paid off?
Submitted: 6 years ago.
Category: Legal
Expert:  Phillips Esq. replied 6 years ago.

Thank you for giving me the opportunity to assist you. I encourage you to ask me for clarification, if you are not clear with my Answer.

 

I live in Montana, I have a first mortgage on my residence with a bank and a 2nd mortgage with a different bank. The 2nd mortgagee foreclosed on the loan but the 1st mortgagee has not foreclosed and the 1st mortgagee has not been paid off by the 2nd mortgagee. Do I have the same rights as the 1st mortgagee?

 

Response 1: Yes, you do.

 

Can the 2nd mortgagee force me to vacate the residence even though the 1st mortgagee has not been paid off?

 

Response 2: No. The second mortgagee cannot do this. This is why there is a lien position. Its lien is in second position and cannot take priority over the first lien unless the second lien holder pays off the first lien.

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