Legal Question in Real Estate Law in Indiana

Hello, my husband had a forclosure about 2 years ago. So I just had his credit report pulled and it shows a 2nd mortgage for 30k, that we thought would have been included in the forclosure. So I called the mortgage company and they gave the number to a company called "Real Time Resolutions". I havent called them yet because I (am scared) would like a little more information first.

I thought a mortgage was a loan against the property, not the person. We really want to buy a house soon, so we are trying really hard not to file bankruptcy.

Thank you in advance.

Brooke ([email protected])


Asked on 7/13/11, 12:41 pm

1 Answer from Attorneys
Jay Rigdon Rockhill Pinnick LLP

Mortgage debt is in personam, against the person, as well as in rem, meaning against the property. Typically the foreclosure suit will list the second mortgage holder, but if that second mortgage holder is not paid from the sale, then your husband still owes the money. It won't hurt to call and see what they might want to settle the debt in full, as they may accept a discount or other improved payment arrangement.

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Answered on 7/13/11, 12:54 pm


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