ownership and encumbrance report questions from a newbie

[GERT S.]

Hi, I am interested in bidding on this foreclosure property through the Orange County's (Florida) website (I "x" out the identifying data for privacy issues):

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Case Number: x

Case Type:FORECLOSURE

Final Judgment Amount:$13,716.49

Proof of Publication:Pending

Parcel ID: x

Certificate Number: x

Property Address: ORLANDO, FL 32835

Assessed Value:$460,406.00

Abbreviated Legal: x

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I requested an O&E report, please see below:

1st Mortgage:$880,000.00 Dated:04/10/07 Recorded:04/18/07 ORB 9215/4237.

2nd Mortgage:$165,000.00 Dated:04/10/07 Recorded:04/18/07 ORB 9215/4261.

Lien, Judgement & Comments

1. LisPendens Mortgage, 10059/1166, 06/11/10.

2. Final Judgment Foreclosure, 10509/346, 01/22/13, $1,212,766.67.

3. LisPendens HOA, 10228/2531, 06/16/11.

4. Final Judgment HOA, 10284/4102, 10/24/11, $13,716.49.

Tax Information

Date Paid:11/22/12 Amount:$8,077.28.

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I have no idea what is going on here on the O&E report (I am a novice). How do I know how much is owed on this property? There is a 1st mortgage for $880k, and a second one for $165K! What does ORB mean? Please check out point 2. under Lien, Judgements & Comments... it says "Final Judgement Foreclosure", $1,213,766.67! Are you kidding me? Am I expected to cough this up if I win the bid?

Can anyone please help me figure out what is going on here?

Thanks!

Gert

[Wayne Brooks]

the judgment amount on the foreclosure web site, which is the debt being foreclosed on, matches the HOA judgment. If this was the first mortgage foreclosure auction, the judgment amount would match the first mortgage judgment. Also, not sure which system they use there, but the plaintiff is usually listed there somewhere. Do be careful, I have seen someone buy at the HOA foreclosure on Monday, and the mortgage foreclosure auction took it on Thursday.

If you learn to search the clerk's site online, you'll find case no. identifiers on the LP and Judgment documents, that you can match up to the foreclosure cases.