I have 2 mortgages and one of my homes got foreclosed

Sadly, unlike many other states, in Georgia, a lender can, but often does not pursue the debtor once the loan is foreclosed on. Since this is a second mortgage, and the property as lost as collateral, due to the foreclosure, the lender could sue you to collect on the debt, since the foreclosure did not negate the validity of the second mortgage, it simply made it an unsecured debt. If they sue you, they will likely win a judgement that could allow the bank to start seizing your assets (with a court order). Although you should definitely discuss your options with your attorney, you should consider negotiating a repayment plan. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300.