Legal Question in Real Estate Law in Texas

I had two houses, one in California and one in Texas. The morgage in Texas is current and live in the house. We let the house in CA go back to the bank. There was 2 morgage on that house. Are we responsible for the 2nd morgage if the house forclosed? It was two morgages to cover the sell price. The house forclosed about 12 months ago and I am getting calls about the 2nd morgage.


Asked on 6/13/10, 6:20 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

The 2nd lien was wiped out when the house was foreclosed by the 1st lien holder. You signed a note and may STILL be personally liable for the amount borrowed as well as any deficiency the lender may suffer as a result of the foreclosure of the 1st lien. Under certain circumstances, a party may need to file bankruptcy to deal with this problem. Check with an attorney to see if this remedy is appropriate for you.

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Answered on 6/14/10, 5:47 am


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