Did this flipper buy a secondary loan?
I was looking at foreclosure auctions and noticed a house up for auction. It looks like the foreclosure is for the primary loan. I did some research and it was in foreclosure last year, but it may have been for an equity loan.
A certificate of title was issued and he completely remodeled the house. It is currently up for sale.
I'm assuming the flipper will lose everything if the auction goes through (house and rehab costs).
Is this a plausible scenario? Would the county still issue a certificate of title on a secondary loan with the primary loan not being notified?