Asked by judith  |  Submitted May 27, 2015

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.

Report Question Report

  Leave Answer

Sign in to MoneyTips
By submitting you agree to our Terms of Service

  Answers  |  3

May 27, 2015

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!

$commenter.renderDisplayableName() | 09.18.19 @ 09:05

{comment}

May 27, 2015

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?

$commenter.renderDisplayableName() | 09.18.19 @ 09:05

{comment}

June 06, 2018

If you filed a chapter 13 you could have done what is called "strip" the 2nd mortgage. That happens when a home is worth less than the first. Your questions kind of hints that is what happened. If so then there is no 2nd mortgage on the home anymore. If you filed a chapter 13 check with the attorney who filed the case.

$commenter.renderDisplayableName() | 09.18.19 @ 09:05

{comment}