Tuesday, November 16, 2010

We presented a few years ago bankruptcy We were the first mortgage but it involved a second mortgage equity line of

We presented a few years ago bankruptcy. We were the first mortgage, but it involved a second mortgage (equity line of credit). It was not high, nobody denies that, and we have not received a statement or other communication from them since. Now we sell the house for our daughter. The second mortgage is always a property right? Yes, they still have a claim. Consult your bankruptcy lawyer. Normally you can not download a loan unless it is restored. Ask a real estate agent to check and see what they are constraints on the properties that you know you have taken. I think the line of credit was secured by a mortgage or deed of trust. If yes, you have to set aside the obligation is personal, but the second mortgage on the property and the loan must be paid in full before the property can be sold to someone with a title proper.

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