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What is statue of limitations for 2 mortgages when one of them foreclosed 9 years ago?

I purchased a home in 2006 with 2 mortgages. Unfortunately, in 2008 the 1st mortgage foreclosed and the home was sold through an auction sale. Now the 2nd mortgage is trying to collect with a lawyer for the full note. It has been 9 years since the foreclosure and maybe 10 years since the 2nd mortgage has received a payment or anything communication from me. Shouldn't this under the statue of limitations for Michigan. And how can I let them know this without waiving my statue of limitations rights? Thanks! by lashawn3691357 from Roseville, Michigan. 28 days ago Reply


Linda Wintersteen (Linda123)
#64 ranked lender in Arizona - 1,255 contributions

the second mortgage holder would have had to purchased out the first mortgage if they want to have rights to it ..

24 days ago
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 8,092 contributions

You really need to talk to an attorney,,, First, the state of Michigan does allow for the mortgage holder to sue you.. the debt is not automatically canceled when you are foreclosed on.. and the laws vary depending on when you got the 2nd mortgage.. was it done at the exact same time you purchased (Purchased money 2nd) or was it taken out after you closed on the first.. (2nd mortgage, HELOC, etc..).. Also, if there was a judgement or not.. if there was a judgment, then MI allows for it to go on indefinitely.. so long as the creditor renews the judgement every 10 years.. The laws regarding MI foreclosure are very complex.. so you don't need a mortgage expert, you need an attorney who specialties are in MI mortgage and real estate.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

24 days ago
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I obtained both mortgages together for the initial sale and there is no judgment against me. I will talk with a lawyer. Thanks for your advice!

24 days ago
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