I am interested in a house that is up for Sheriff auction. The first mortgage is forclosing on the home. I pulled the title report and there is a second mortgage for $20 and additional liens (repo, credit cards, cash advances) of $20k. Will the second mortgage and additional liens stay with the property or will they drop off?
Will the bank most likely out bid me since $60k is balance due and the Sheriff's appraisal is only $50k?
Every county is different.
Taxes may but be wiped out.
Bank won’t necessarily take what’s owed. That’s why properties at SFC end up being good deals - because they don’t.
Call the attorney on writ, ask what they want. Probably won’t take your call but can’t hurt.