Foreclosure Auction - Loan Modification?

[Brian Raymond]

New member, have enjoyed some of the great insights on the forum however I need to dive in with something I've run into. I might be bidding on a foreclosure auction this week however the title search came back with something that has me scratching my head. The house was built in 2004 and at that time the construction loan was modified to the actual cost upon completion, lowering it by $60K. The foreclosure is for the original amount, which after 2004 doesn't exist, I can't understand how that works with the loan modification on the table from 2004. Can anyone provide some insight into how this might happen? I appreciate any help that can be provided.