Second mortgage foreclosure process
Hey everyone, this is my first post to the bigger pockets forum. I live in a small real estate market in Idaho. It appears to me that in my little town the best deals are through the foreclosure auction. I have found a potential deal that I am interested in the process to finalize the transfer of title from the original owner to myself. The house has both a first mortgage( approximately $105k original payed down to $69k) and a second mortgage ( approximately $45k payed down to $31k). The second mortgage is the lien which is up for auction. My question is if I buy the home at foreclosure, what is the process to buy the first mortgage, after winning the bid for the second mortgage? And How do I ensure that the house becomes fully mine? Is there anything I should worry about for the title transfer? Thanks for the support.