Legal Question in Real Estate Law in Texas

I owned a home in Texas and it was foreclosed back in 2006. It was sold at auction and has since been sold twice. I held an 80/20 loan and the same bank actually held both liens. I am just now finding out that the bank only foreclosed on the primary lien and the 2nd lien is still open and active. They are saying I am still responsible for that 2nd lien even though I no longer own the property. Is this true?


Asked on 2/11/11, 12:21 pm

1 Answer from Attorneys
Joseph A. McDermott, III Attorney at Law

Without reviewing the papers, it's impossible to say. However, if you've made no payments since 2006, it's likely that the statute of limitations has run on the second lien note. Again, a review of the papers would be required.

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Answered on 2/11/11, 12:57 pm


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