if your home is sold at foreclosure auction are you obligated to payoff second…

Credit and mortgage advice Forums Home Mortgage if your home is sold at foreclosure auction are you obligated to payoff second…

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      Anonymous
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      …mortgage? I live in Tennessee. Told first & second mortgage companies was giving home back because could not afford payments; first mortgage company managed foreclosure auction. Friendly resolution, voluntary release; no eviction. Court oversight, accepted sell as final settlement between all parties; I had no legal representation. Both mortgage companies were aware of auction and each other, but second mortgage company did not participate in proceedings. Second mortgage company said must be notified officially by first mortgage company in order to recognize sell. First mortgage company said second mortgage company must contact them directly to get sell information. Still making payments to second mortgage company. What are my options? Must I keep paying second mortgage company?



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