Statue of Limitation on a equity line
Date: Thu, 05/09/2013 - 11:43
The second lender can
The second lender can certainly try to collect the loan. However, the second lender can't foreclose your house. Even if the house is foreclosed, then the sale proceeds will be used to pay back the primary mortgage lender first. Once your first loan is satisfied, then only the second mortgage lender will receive money from the sale proceeds.
When did you make the last payment on the second mortgage?
Someday, I'd like to go to
Someday, I'd like to go to the park or museum wherever this "statue" is and see it for myself.
Everybody seems to be talking about it.
Sorry, couldn't resist. :P