2nd Mortgage On Foreclosed Property

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,101
181
63
San Diego, California
www.loansreduced.com
Hi Everyone,
We recently launched a product available for homeowners that have had a property foreclosed in an anti-deficiency/non-recourse states with a 2nd mortgage still reporting on credit. Since the 2nd lien is not attached to a property we consider the debt basically a collection however this is only available on our portfolio loan product.

Depending on the overall aggregate balance on the 2nd mortgage reporting on credit will determine which program & terms you're eligible for.

This is big news as many homeowners have not been able to do anything without settling the 2nd mortgage. Ultimately if you want to obtain a conventional or FHA loan you will have to settle the lien at some point but there may be options available now.

Feel free to reach out to us if you have any questions at 800-779-4547.