Foreclosure Auction with Multiple Mortgages. Need Help!

[Ilya K.]

Hi BP Community, 

I have a deal I would like to run by you all and get any feedback you can provide. 

I am looking to buy a property in FL at an auction. Looking through the court documents and official records it looks like there are multiple mortgages on the property. 

Mortgage One: Federal Savings Bank $90K on Sept 2006

Mortgage Two: City Mortgage (i.e. City of Miami FL) $75K on Sept 2006 Housing Assistance Program

Mortgage Three: City Mortgage (i.e. City of Miami FL) $40K on Aug 2008 Housing Assistance Program (assuming this is a refinance)

The property will sell for a minimum of $84K. 

What I am trying to find out is if I buy this property will I also be responsible for the other loans as well or will they disappear after the auction is done. I know that some time the superior loan is paid first and then all other liens are paid on any extra winnings from the auction but then cease to exist. Is that the case in this scenario?

I can confirm this foreclosure is for the initial loan from the federal bank after following all the Assignment of Mortgage documents but am not sure how the city mortgages fit into this scenario. Happy for any feedback anyone can provide. Thank you!