Here's how to handle electronic delivery of mortgage disclosures

Fannie Mae picks non-profit for first small sale of non-performing loans

Completes first “Community Impact Pool” sale

The do’s and don’ts of good credit for Millennials

Here's how to build you score
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