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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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