Can you assume 1st mortgage if buying property at auction (in California)?

[Monica Boyles]

Hi all. I've been looking at properties going to auction. Typically it's the lender of the first mortgage that is foreclosing. But occasionally I'll see a property where the it's the lender related to a second mortgage (or even an HOA) that is foreclosing.

My understanding is that (here in CA at least) if you buy a property at auction and it's the lender of the first mortgage foreclosing, a second mortgage is wiped and you won't owe that. (There might be other property liens that remain of course.)

It's also my understanding that if the lender of a second mortgage is foreclosing and you buy the property, you'll still be responsible for the first mortgage. My question is whether you can assume this mortgage under the same terms (or potentially new terms), or whether that 1st mortgage is going to have to be paid in full ASAP. Please let me know if you have any insight.