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Roger, Attorney
Category: Legal
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i have a mortage and a line of credit thru the same lender.

Resolved Question:

i have a mortage and a line of credit thru the same lender. if i stop making the line of credit payment, can they forclose
Submitted: 6 years ago.
Category: Legal
Expert:  Roger replied 6 years ago.

Hi - my name is XXXXX XXXXX I'm a litigation attorney here to assist you.


If the line of credit is secured by the house, yes. The line of credit is a secured 2nd lien against your property and that lender can foreclose.


You often don't see 2nd lien holders foreclose because any money it gets from foreclosing must be first used to pay the first lienholder in full, and then if anything is left, the 2nd lienholder gets the money up to the amount you owe under that loan.


Even though this is rare, it does happen.

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