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Updated almost 10 years ago on . Most recent reply

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John Rovin
  • Irving, TX
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Secondary Lien Same date same lender foreclosure auction Title Q

John Rovin
  • Irving, TX
Posted

Hi I am checking the documents of a property which is in foreclosure.

It has below deed of trusts:

1. ABC Bank (FirstLien Deed Of Trust) $100,000 Date: 1/1/2000

2. ABC Bank (Purchase Money\Second Lien Deed Of Trust) $30,000 Date: 1/1/2000

If bank is foreclosing First Lien then, is the buyer at foreclosure auction responsible for "Purchase money/second deed of trust" which is of same date and same lender?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

The first mtg Recorded, is first, unless it is specifically subordinated.  Same day doesn't matter, look at the recording numbers to see which is first.

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