If my home was forclosed on and had 2nd mortgage, does the 2nd mortgage become unsecured?

Question Details: How should it be listed on my credit report?

Asked on 5/30/2019 under: Real Estate Georgia

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney Answered 6 months ago | Contributor

Yes, the second mortgage now becomes an unsecured debt (assuming there was not enough equity in the house to, once it was sold at the foreclosure sale/auction, pay off both mortgages) because the property securing it is gone and no longer available as security.

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