What happens to the second mortgage when the first mortgage forecloses?; Dallas Revises MERS Filing-Fee Suit to Add All Texas Counties

Dick Morris explains the reasons behind the double dip in real estate and housing prices. He blames Obama’s plans to raise taxes and his efforts to repeal the mortgage interest deduction.

Question by Painted Jezebel: What happens to the second mortgage when the first mortgage forecloses?
I am going through a foreclosure on my first mortgage, what are my options with dealing with the second mortgage? Any legitimate websites with guides for dealing with the aftermath of foreclosure would also be appreciated.

Best answer:

Answer by Real Estate Guy
read this article. It should explain http://www.washingtonpost.com/wp-dyn/content/article/2008/04/11/AR2008041101914.html

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Dallas Revises MERS Filing-Fee Suit to Add All Texas Counties
2 (Bloomberg) — Dallas County, Texas, is seeking to represent all counties in the state in its lawsuit against Bank of America Corp. and Mortgage Electronic Registration Systems Inc. over unpaid filing fees. Dallas filed the complaint in September,
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