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Primary mortgage bank has judgment against junior bank.

Discussion in 'Foreclosure, Repossession, Auctions, Short Sales' started by jetliner2, Feb 17, 2013.

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  1. jetliner2

    jetliner2 Law Topic Starter New Member

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    After going through a divorce, I am currently in foreclosure. (She agreed to let me stay in the house and keep it if I can beat the foreclosure). I might actually win the foreclosure. But there is a second mortgage on the house, and we are being sued for that one as well. So far I really can't find any of the usual defenses to this one (Show me the paperwork, etc.) But, as part of the foreclosure proceedings from the primary bank, they got a default judgment against the junior bank. That being the case, even if the junior bank wins their case, any money we pay to them would have to go right to the primary bank. So what I'm wondering is what would happen if I sent the junior bank's attorney a copy of the judgment and a letter saying that they may want to consider dropping the case because all they are doing is using money and resources to collect money that they will never actually get to keep.
     
  2. army judge

    army judge Super Moderator

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    I think you need to reevaluate all of this.

    Then you might want to discuss this in detail with a lawyer.

    There are several flaws in your theory.
     
  3. jetliner2

    jetliner2 Law Topic Starter New Member

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    What flaws are you seeing?
     
  4. army judge

    army judge Super Moderator

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    That's why you need to see a lawyer, spend $500-600 for an hour of a good lawyer's time.

    There ain't no free lunches.
     
  5. jetliner2

    jetliner2 Law Topic Starter New Member

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    I'm not asking for free lunches. But at the same time, what is the point of this forum? I know it's not the same as getting full legal advice, but I'm not looking for help preparing a case or something like that. It's a simple question. What would happen if I told Bank B that Bank A has a judgment against them and it won't do any good for them to try to collect.
     

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