All Forum Posts by: Patrick Mahoney
Patrick Mahoney has started 4 posts and replied 12 times.
Post: Buying a Second Deed at Foreclosure Auction
- Investor
- Sonoma County, CA
- Posts 12
- Votes 2
Hello,
I recently found a home in California that has two Deeds of Trust on it, the first being a mortgage and the second being a line of credit. The Trustee for the second (the line of credit) is foreclosing on the home and has announced the trustees sale at a public auction. My question is, if I purchase this at the auction with cash, the second is paid off (by me via purchase at the auction) but do I have the rights to the property but am liable to the first deed or does the homeowner still have the right to the property?
Post: Buying a Second at a Foreclosure Auction
- Investor
- Sonoma County, CA
- Posts 12
- Votes 2
Hello,
I recently found a home in California that has two Deeds of Trust on it, the first being a mortgage and the second being a line of credit. The Trustee for the second (the line of credit) is foreclosing on the home and has announced the trustees sale at a public auction. My question is, if I purchase this at the auction with cash, the second is paid off (by me via purchase at the auction) but do I have the rights to the property but am liable to the first deed or does the homeowner still have the right to the property?