Looking back, the housing industry is totally Scrooged

Looking back, the housing industry is totally Scrooged

Here's the HousingWire/Star Wars Christmas 2014 special

FHA loans could face "tidal wave of defaults"

All indices hit series high

Another mortgage lender launches 3% down loan

Falls in line with FHFA
W S

Homes lost, but some second-mortgage debts remain

/ Print / Reprints /
| Share More
/ Text Size+
Debt collectors are starting to hound people who lost their homes to foreclosures or short sales over their second mortgages. In California, a foreclosure generally wipes out the borrowers' obligation on the main mortgage but not necessarily on other home loans. "We've seen a lot of folks coming to us, saying, 'I was foreclosed on, now these people say I owe $150,000 for my second loan; I thought everything was going to go away, what do I do now?' " said Noah Zinner, an attorney with Housing & Economic Rights Advocates in Oakland. Some experts think the trend will accelerate, causing foreclosure pain to linger.

Recent Articles by Diana Golobay

Comments powered by Disqus