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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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Our home was forclosed about 1 1/2 years ago. There was also

Customer Question

Our home was forclosed about 1 1/2 years ago. There was also a line of credit 2nd mortgage with a different bank. Only in the last 2 weeks have we begun getting collection calls from 2nd bank looking for money. Wouldn't that have to have been satisfied with the mortgage company before they were able to sell the home? Both were only in my husbands name and he has not been employed for nearly 3 years.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  MIAMILAW1127 replied 1 year ago.

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Customer: replied 1 year ago.
Please advise - has the "line-of credit" actually been settled with the mortgage company?
Does this bill collector really have any right to be harassing my husband for payment?
Expert:  MIAMILAW1127 replied 1 year ago.

The second mortgage/line of credit should have been included as a party to the foreclosure brought by the primary/senior lender. If they were included in that action and did not preserve their position, then their interest has been extinguished by the foreclosure.