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Updated about 9 years ago,
Mortgage position
Hello Everyone, I am new to BP, I am trying to understand about mortgage positions in a title search. Would be a great help if someone can provide details.
A property first mortgage is recorded on some x date
A second mortgage is recorded later after first mortgage recorded date.
Later When ONLY first mortgage is re financed. Would the refinanced lender have a new recorded date ?
And if the refinanced lender forecloses the property, and up for sheriff sale, does the winning bidder responsible to the second mortgage. Whenever first mortgage is re financed does the recorded date change in the title.