Legal Question in Real Estate Law in Minnesota

foreclosure 2nd mortgage

I had finianced a second mortgage on a property. Since

the first mortagor has foreclosed what must I do to maintain my finacial interest in the property?


Asked on 7/10/06, 1:25 pm

1 Answer from Attorneys
David Kelly-952-544-6356 Kelly Law Office

Re: foreclosure 2nd mortgage

If you are the creditor holding a second mortgage, you will have a very narrow window during which you can redeem your interest from the creditor holding the first mortgage.

It's complicated, and if you don't do it right you will find yourself suddenly out of luck. You need the help of a lawyer, unless you are ready to kiss your investment goodbye.

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Answered on 7/12/06, 11:16 am


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