Foreclosure homework- I'm confused
I've got a foreclosure through a Sheriff's sale that I'm interested in. Mostly to learn the ropes more, but I'm interested in pursuing it at auction.
The foreclosure amount is $22K.
I did some research, got the property report from the public records site, and I'm confused.
It says there are no solar, mechanical, tax, or transaction liens. OK, great, makes sense.
It then details the 'First Loan Position' with the amount, and other details.
Same thing for the 'Second Loan Position' and the 'Third Loan Position.'
None of which, no matter how you combine them, add up to the $22K mentioned above.
When it gets to the Deed of Trust section, there are also 4 different Deeds of Trust detailed, to the current owner, all done within the last 1.5 years. The values associated with these are all over the board- and again, do not add up to the $22K foreclosure amount.
So my question is- Are these enough red flags that I should stay away from this at auction?
Does that maybe mean that the auction is only for one of the Loan positions, and that the current owner still owns the positions on the second and third?
I'm already no longer excited about this property because it's not black and white. Am hoping some of this makes sense to someone else and you can either talk me on or off the ledge. Should I run away from this, or is this just how a property record of a foreclosure should look?
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