How to Foreclose on a Mortgage?

Answer Lenders learn how to foreclose on a mortgage by following the laws governing foreclosure in different states. 23 states require a judicial foreclosure which means that the lenders learn how to fore... Read More »

Top Q&A For: How to Foreclose on a Mortgage

Can you foreclose on a second mortgage?

It is possible to foreclose on a second mortgage. However, the second mortgage is only foreclosing on their position, so the first mortgage and any taxes must be satisfied before the foreclosure sa... Read More »

How to Foreclose on a Purchase-Money Mortgage?

If you hold a private purchase-money mortgage on a home and the borrower is default, you may, if the contract allows, legally foreclose and evict the homeowner. However, you must follow the contrac... Read More »

Can the Bank Who Holds the Second Mortgage Foreclose?

If you fail to make your mortgage payments, your lender (mortgagee) can foreclose, or take possession of your home and sell it to recover the money owed. When you have a second mortgage or home equ... Read More »

Can a second mortgage company foreclose on a house?

The second mortgage company does have the legal right to foreclose but the question is whether or not it is really in their best interest to do so. They would need to be able to pay off the first m... Read More »