Legal Question in Real Estate Law in Florida

If I hold a promissory note as a second mortgage to someone who has gone into foreclosure on the first note/mortgage is that person still obligated to pay the promissory note to me? I don't know if they went bankrupt or not, but the bank did take back the property.


Asked on 11/11/09, 10:22 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Yes. The foreclosure may have knocked out your lien but not the obligation to pay on the note.

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Answered on 11/16/09, 10:56 pm


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