My second mortgage was included in my bankruptcy. My first mortgage is for what the house is worth. Does someone who buys the house have to pay for the second mortgage?

The second mortgage lien is still out there... even though I don't have to pay it. Does someone who buys the house have to pay it? I am in Florida.

Asked by judith

2 Answers

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Answered by Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO
Any liens on title have to be released before a property can be conveyed from one owner to another. If you've got a second and wanted to sell the home, it would have to be paid off out of the proceeds of the sale (or by your own funds at or before closing. Hope that helps! | 05.27.15 @ 18:28
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$commenter.renderDisplayableName() — {comment} | 12.05.16 @ 02:38
J
Answered by judith
hummm so should I bargain with 2nd mortgage to settle for less before selling or just walk away since I never reaffirmed the 1st, just pay it every month? | 05.27.15 @ 19:50
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$commenter.renderDisplayableName() — {comment} | 12.05.16 @ 02:38
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Answered by

Ted Rood
Ted Rood, Mortgage BrokerPRO+ in Maryland Heights, MO

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