2nd Mortgage Foreclosure Auction?

[David Cruz]

I am researching a property that will be sold at a county foreclosure auction in Florida. Upon review of a title search I realized it is the second mortgage holder that initiated the foreclosure process. My understanding is that the winner of the auction will take title to the property subject to the 1st priority lien. Any amount bid in excess of the 2nd mortgage judgement goes to the current homeowner and not to satisfy the 1st mortgage balance.

In this case, that first mortgage is from 1992 and has been assigned a half a dozen times. Given that the mortgage is from 1992 and that the 1st lien holder has not initiated the foreclosure I assume payments have been made. 

Is there anyway I can find out what the balance of the first mortgage is so I know what I should bid on the property? Any other advice you might have given this scenario?

Thanks!
 

[Jeff Copeland]

Quote from @David Cruz:

Quote from @Jeff Copeland:

Typically, you have to find out who's name the mortgage is in (presumably the current owner) and have them sign an authorization to release information.

 Seems like the current owner (or possibly a tenant) is still living on the property. I'm going to guess they may not want to assist in any way.

No harm in asking them. A lot of money can be made by simply knocking on doors and establishing rapport!