Legal Question in Real Estate Law in Georgia

second mortgages

I recently had a property on that had a second mortgage. The first mortgage took the house and the second mortgage is calling me and saying I still owe them for the second mortgage. I live in Georgia and always thought that the mortgages were secured by the property. Can the 2nd mortgage company sue me in court for a judgment?


Asked on 8/15/08, 5:11 pm

2 Answers from Attorneys
Robert Thompson J. Robert Thompson Attorney

Re: second mortgages

Yes, unless you had a "nonrecourse" mortgage, which is very unlikely with a second mortgage. If you aren't sure, take the note and security deed to an attorney for review.

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Answered on 8/15/08, 5:16 pm
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: second mortgages

If your theory was correct, no lender would ever loan money on a second mortgage. You signed a note - what does it say? These things should be understood before even considering buying property and borrowing money.

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Answered on 8/15/08, 5:40 pm


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