Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 3 years ago, 10/14/2021
Desperately need advice on Auction property / Mortgage
Hey everyone!
Thank you in advance for helping me get out of this tough spot.
-Property was listed as a short sale prior to auction and under contract for 133k by someone else
-Bought a property at auction last week (HOA and tax liens) have until Friday to decide if I keep it
-Auction said I am responsible for all debts on property
-Selling agent said property has 250k mortgage even though its only worth 160
-Town doesn't have information on mortgage
-only mortgage I could find was started in 2006 (221k) and transferred banks in 2020
-Mortgage company says I'm not responsible for outstanding mortgage if there is one but couldn't find specific property
I have spoken to a lawyer and they aren't sure what to do, so I'm coming here humbly asking for any ideas or input