Legal Question in Bankruptcy in Missouri
Defaulting on Loans
Do you know if one defaults on a 2nd mortgage is a lien put on your home?
Meaning that one can�t sell it until the 2nd is paid for?
The first mortgage payments are being met.
Asked on 7/26/05, 11:07 am
1 Answer from Attorneys
Charles Dobra
Charles Wm. Dobra, Ltd.
Re: Defaulting on Loans
The SECOND MORTGAGE constitutes the lien on the property. So, it is already recorded, which means that it must be satisfied upon transfer of the real property.
Answered on 7/26/05, 7:03 pm
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