Should I Bid on this Property? (Auction)
Hello BP Family. There is a property I'm interested in purchasing from Auction.
From my research, here's what I was as able to gather:
Senior Lien for $172,000 from 4/15/05 assigned to Bank of NY Mellon on 12/31/17.
Junior Lien for $27,000 from 10/18/05 assigned to Bank of NY Mellon on 10/28/15.
Bank of NY Mellon is foreclosing on the Junior Lien and it's being auctioned at the end of the month. Is it safe to assume the Senior Lien is current since they didn't foreclose on it? The Senior Lien would still be intact, correct?
Final Judgement: $35,000