Foreclosures in Miami, FL

[Jerome Brown]

Hi Sean,
Can't help with the local info, but I can address your first question. If the second lien holder is the one foreclosing, and they (or anyone else) buy the property at the sale for the second lien, they're buying it subject to the first lien. Same for any other lien or judgement down the line.

In some places, buying the property at a sale wipes out the more junior liens and judgements. Here in CO, that's not quite the case. All those junior lienors have a redemption period where they can buy the property from the previous winner to protect their interest. If they don't redeem, they get wiped out. Not sure how it works in FL.

Jon