Foreclosure liability 1st & 2nd Mortgage

[akleitch]

What is the name of your state? Washington
My home was financed with a 1st & 2nd mortgage by the same lender at the time of purchase (100% finance). The 2nd was subsequently transfered to another lender by the 1st. A foreclosure by the 1st ensued. Now the 2nd is suing for the balance of the note. Does Washington state preclude the 2nd from trying to collect?

 

[seniorjudge]

I apologize for jumping in here. I want to subscribe to this thread.

I would not think the second would have any chance at all, unless there is some kind of deficiency statute.

I will sit idly by, waiting for the correct answer to this interesting question.