Updated over 15 years ago on . Most recent reply
Buying 1st at sale when second is larger and may redeem
My state has a 6 month owner redemption period after the sheriff's sale. After that the second lienholder can redeem, but only has 7 days to do so. Is it advisable to buy, at sheriff's sale, a smaller first when the larger second is held by the same local bank? It's a great deal if I can buy the first and the 2nd is wiped out, but will they let that happen? I'd like to hear about specific cases of this situation, thanks.