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  1. #1
    Join Date
    Jun 2013
    Posts
    1

    Question What is the Statute of Limitations on a Second Mortgage in California

    My question involves a 2nd mortgage in the state of: CA

    History:
    1st mortgage is pending a loan modification
    2nd mortgage we were told back in 2008 it was internally written off. Note: No payment towards 2nd mortgage has been made since 2008.

    This month (June 2013), received call from collection agency asking when would I start making payments. This is 1st call in 4+ years.

    I'm trying to understand what is the statue of limitations in CA regarding the collection agency's effort to collect.

    Thanks
    BZ

  2. #2
    Join Date
    Mar 2013
    Posts
    4,771

    Default Re: What is the Statute of Limitations on a Second Mortgage in California

    The SOL is a time limit for filing a lawsuit.

    That the debt was "internally written off" is for the lender's tax purposes. You still owe the money.

    The SOL has nothing to do with "efforts to collect." That can go on forever.

    Besides, the 2d mortgage is still secured by the property and, someday when you want to sell the property, you will have to deal with that second mortgage because the lender won't give you a lien release and a buyer is unlikely to buy without one.

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