Legal Question in Real Estate Law in Connecticut

1st & 2nd Foreclosure ?

I have an FHA 30 yr. fixed with Principal in Iowa and a Home Equity loan with Irwin in California. If I am late on the 2nd mortgage (Irwin) can they foreclose on me without consent of the first mortgage holder? By the way, both mortgages added together = the house value. I appreciate anything that you can tell me.

Thanks


Asked on 4/07/03, 12:30 pm

1 Answer from Attorneys
John Heffernan Heffernan Legal Group, LLP

Re: 1st & 2nd Foreclosure ?

Yes, they can; and if they have a foreclosure sale and the property brings in less than what is owed (on both mtgs) they can chase you for the deficiency.

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Answered on 4/07/03, 2:20 pm


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