Top 5 cities where safety is not a question

Top 5 cities where safety is not a question

Number one shouldn't be a shocker

Where's Watt?

FHFA scorecard should be marked tardy

Rentership society? Insider trading on Russian sanctions?

What We're Reading: The Good Friday edition
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