Updated almost 3 years ago on . Most recent reply
Buying a Second Deed of Trust at Autcion
Hello,
I recently found a home in California that has two Deeds of Trust on it, the first being a loan against the house and the second being a line of credit. The Trustee for the second (the line of credit) is foreclosing on the home and has announced the trustees sale at a public auction. My question is, if I purchase this at the auction with cash, the second is paid off (by me via purchase at the auction) but do I have the rights to the property but am liable to the first deed or does the homeowner still have the right to the property?