Auction 2nd Mortgage Winning Bod

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Does anyone know the details of bidding towards a 2nd mortgage of a home? The pros & cons & how 1 can retrieve more info about the 1st mortgage or if its really worth bidding towards a 2nd mortgage at a foreclosure auction?

You certainly need to have an idea how much the first is....tough to do in most cases, it’s a bit of a wild guess, finding if/when the 1st went into default helps.