Buying a home with a second mortgage on it

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I have an offer to purchase a home worth 80,000 right now but the homeowner has a second mortgage on the home and still owes 60,000. She wants to sign the home over to me but I am not sure how the second mortgage process works. 

How many current mortgages is not the important factor... it's their combined balance.

In most cases you'd be paying off both the first and second (and any other liens) at settlement and the seller would walk with the difference... in this case roughly $20k.