Can 2 foreclosures be going on with the same property similtaneously?
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Can 2 foreclosures be going on with the same property similtaneously?
Asked on February 12, 2012 under Bankruptcy Law, New Jersey
Answers:
Michael Duffy / Duffy Law, LLC
Answered 12 years ago | Contributor
Yes, but one would normally have "priority" over the other. Your primary mortgage probably be the first priority, meaning they get the first claim to any money recovered from the foreclosure sale. The remaining money, if any, would go the mortgagees of lower priority.
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