Tagged: Judgment Against

Jan 23

What Happens to Second Mortgage After Foreclosure on the First?

Scenario:

I have a foreclosure soon to take place on my first mortgage. What happens to the second mortgage if it is paid up to date? I was so stupid that paid a company XYZ $1000 to negotiate a plan for paying the first loan. they promised me that the first mortgage lender would surely accept their plan. But they dropped the ball and the first lender won`t take anything. Now, it`s just 10 days left for the foreclosure sale. The lender is simply trying to blame it on me. Is there anyway I can get back the $1000? What`s going to happen when they sell off the home? Will the sheriff come and keep all my possessions if I`m still there in the property? I`m so upset, I could have used the $1000 towards the first mortgage instead of paying XYZ. What do you suggest now? 

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