Results 1 to 3 of 3
  1. #1
    Join Date
    Jul 2007
    Location
    North Carolina
    Posts
    11

    Default Senior and Junior Liens with Two Mortgages Filed On The Same Day

    Location: NC

    If two mortgages are obtained on the same house, on the same day would one have precedence over the other?

    The reason I was asking was because I recently was searching deed records of multiple homes I was interested in bidding on at a foreclosure sale. One house had two mortgages entered on the same day, the trustee was foreclosing on the larger loan, but the smaller loan was entered first that day in the register of deeds.

    Thanks in advance.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Senior and Junior Liens with Two Mortgages Filed On The Same Day

    I believe North Carolina is a "race" jurisdiction, meaning whoever records their mortgage first has priority.

  3. #3
    Join Date
    Jul 2007
    Location
    North Carolina
    Posts
    11

    Default Re: Senior and Junior Liens with Two Mortgages Filed On The Same Day

    I assumed that also. thanks

    1. Sponsored Links
       

Similar Threads

  1. Foreclosure: What Happens With Junior Loans During Foreclosure
    By CA_Foreclosure in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 03-14-2011, 08:00 PM
  2. Laws Governing Mechanics Liens and Storage Liens
    By bodyshopman in forum Cars and Dealerships
    Replies: 3
    Last Post: 10-28-2010, 05:04 PM
  3. Chapter 7: Are Junior Liens Extinguished by Chapter 7 Bankruptcy
    By AZroad2ruin in forum Bankruptcy Law
    Replies: 1
    Last Post: 03-26-2010, 09:24 AM
  4. Foreclosure: Foreclosure And Satisfaction Of Junior Liens
    By Bananahead289 in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 02-14-2008, 07:37 AM
  5. Foreclosure: Senior Lienholder Omitted Itself as Junior Lienholder
    By Timesup in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 12-16-2006, 12:08 PM
 
 
Sponsored Links

Legal Help, Information and Resources