Updated over 8 years ago on . Most recent reply
Buying a trustee sale
I am planning to buy a Fairfax county trustee auction and trying to understand few things before i go and buy. Upon title search on this property i found 3 things and wanted to understand how risk is this buy and what i should know before i bid.
1. An outstanding Judgement lien since 4 years, i assume its not paid off, if so how can i find out. From my research i read that the government, tax and judgement liens take priority.
2. A loan modification after 4 years of ownership and the amount is higher than original loan amount. I am assuming it Refi + Cash out when the rates were really low. On the foreclosure website it states position 1 and position 2 while the position 2 is the loan modified amount.
So my questions are
1. How do i find out more on Judgement lien and its pay off status.
2. I am assuming that there is only one which is the modified amount. Please clarify or suggest.
3. If i go for bid, what should i consider (Judgement to be paid + winning bid price)? OR any other surprises.
Your advice is appreciated.
Most Popular Reply
Was the judgment recorded before the modification or after? Did you provide that information to the underwriter?
- Tom Gimer
