Mortgage Forum
2nd position Lien charge-offs
This is a discussion on 2nd position Lien charge-offs within the Mortgage Legal forums, part of our Mortgage Chat category; I am seeing second lien holders charging off loans prior to foreclosure by the first. These are not being reported ...
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April 26th, 2008, 09:34 AM
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| Senior Member Join Date: Apr 2008
Posts: 1,073
|  2nd position Lien charge-offs I am seeing second lien holders charging off loans prior to foreclosure by the first. These are not being reported to homeowners, and being uncovered during short sale negotiations. I have two cases, that when submitting docs to a 2nd position lender that they have indicated to me that these have been sold, and given to attorneys for collection. In one case this was over a month ago, neither with homeowner notification. What is their timeline for reporting sale of note on a non-performing loan? Thanks |
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