How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Phillips Esq. Your Own Question
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Legal
Satisfied Customers: 18580
Experience:  B.A.; M.B.A.; J.D.
16551887
Type Your Legal Question Here...
Phillips Esq. is online now
A new question is answered every 9 seconds

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.

Phillips Esq. and 3 other Legal Specialists are ready to help you