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  1. #1
    Join Date
    Apr 2008
    Posts
    1

    Default How To Collect On 2nd Mortgage Gone Bad

    My question involves a foreclosure in the State of: Idaho
    I live in California and funded a 2nd on a home in Idaho. The borrower skipped and the first holder went to forclose on the loan. I payed off the first in order to protect my second and became sole owner of the property. Can I still go after the borrower for the 2nd trust deed even though I own the home? Can I expect to recover the whole 2nd or just the losses associated with the transaction?
    JMPRO

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: How To Collect On 2nd Mortgage Gone Bad

    I should think you'd be able to recover all of the losses (including the 2nd).

    Have you discussed the matter with a real estate attorney yet?

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