Is the loan being foreclosed on the first and only?
Ok, how ' bout this situation. The county's website is showing a property going to foreclosure with a loan balance of 119k. Zillow has this prop appraised at 164k. So about a 33% equity position. The 119k loan was recorded as a deed of trust on 12/22/04 as a conventional 5.5% adjustable loan. Am I safe to assume that this loan is a first? The clerk and recorder had lots of confusing info on this prop. If it is a first what happens to to the 2nd loan, tax liens, mechanics lien etc (if any)? Is it worth to hite a title company just to make sure that there is only one loan against the prop? I live in CO.