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#1962504 - 09/17/14 02:33 PM initiating foreclosure
petrilla Offline
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Joined: Aug 2013
Posts: 1
We currently hold a first and second lien on a property where the 2nd mtg is 600+ days past due but the 1st toggles between 60-120 days past due. Can we initiate foreclosure on the 2nd even though we hold the 1st and does not meet the 120 day rule criteria? Are the accounts stand-alone or must we treat the foreclsoure on the "property" as a whole?

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#1963486 - 09/20/14 02:44 PM Re: initiating foreclosure petrilla
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Each loan stands alone.
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