Sheriff sale questions, Lis Pendens, first/second mortgage and child support

[Juan Rodriguez]

So I've been attending the sheriff sales, studying cases and read as much as I can in regards to foreclosures prior to making my first move on this type of auctions. So far I have only done an REO flip so I'm still a bit green on RE investment.

So I have come across 3 situations in which I have doubts, so if the pros don’t mind please help understand the following scenarios/questions:

1) On a property that was auctioned and sold to an investor yesterday , JP Morgan (1 note holder) filled Lis Pendens against owner, then later conveys (assigns) mortgage to Federal Deposit and Washington Mutual; Federal Deposit and Washington Mutual then conveys (assigns) mortgage to BAYVIEW LOAN SERVICING LLC. Sale takes place with JP as the plaintiff.
Question is: did the buyer bought a useless note since JP no longer owned the note since it was conveyed to another bank? There were multiple bids by the pros on this one so I’m almost sure the deal was legit but I’m just curious as to why JP assigned the mortgage to another bank and still foreclose on it.

2)  There was a property that had a 2 mortgages recorded on the same day for about the same money 95K and 100K, I know whichever records first gets the first note but in this case how do you spot the which is the first? I’m guessing by DOC number, but in this case the mortgage with the later DOC number was the one foreclosing and had named the other as defendant in the case. Home value was about 120k according to Zillow so I doubt that if in fact the second was the one foreclosing will get any cash (there were no subordinations either), home was sold to investor for 80k, did he get a deal or screwed?

3)  Property was sold to investor for 45K, Zillow value: 120k. Owner had a child support debt of 20K, and case was also named as defendant along with the owner. I’m thinking the investor got a good deal even if he has to pay the child support note, so the first question is does he? Even though the child support case was named as defendant in the foreclosure sale? And if he does, is there any way to collect the debt from the owner?

Thanks in advance, love this website!