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Updated over 9 years ago on . Most recent reply

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2
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Jim H.
  • Tamaqua, PA
0
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2
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Sheriff sales and existing mortgage

Jim H.
  • Tamaqua, PA
Posted

Hello, I am new to the website. I am not an investor yet, just trying to learn the basics and stay out of trouble. I have been watching Auction.com, there are a lot of REO's on that website many with large mortgages unpaid leading to Sheriff sale. Will someone explain what happens to a mortgage after the bank takes possession after a Sheriff sale? If the bank tries to auction the property, does the mortgage generally follow the title/deed or is it cleared after the Sheriff sale? I'm sure this varies by state and county? I am in PA.

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