Legal Question in Credit and Debt Law in Utah

I have a second mortgage that has been passed on to a collection agency. I am current on my first and intend to keep thee home, what can happen if I continue to not pay the second?


Asked on 5/25/10, 11:51 am

1 Answer from Attorneys
Cory Wall Cory R. Wall, Attorney at Law, P.C.

If you don't pay the second mortgage, the mortgage holder can foreclose on your home and you will lose it. They will then take title to your home subject to the first mortgage which they will have to continue to pay. However, if they foreclose, they may be able to get enough from the home at the foreclosure sale to satisfy both their loan and the first mortgage. If you're wanting to keep the home, I strongly recommend you cure the default on your second mortgage.

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Answered on 5/25/10, 3:49 pm


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