HECM FHA insured Reveres Mortgage at Sheriff Sales

[Scott Schultz]

From what I understand an originating mortgage co. records a mortgage for 150% of value and the FHA records a similar instrument stated as a Secondary Mortgage in the same amount, insuring the first, does anyone have experience with buying theses at Sheriff Sale? the one i am currently watching, the "First" in this case Nationstar, is foreclosing, with a judgment of what im guessing is the loan balance, does the "FHA Second" go away? what Rights Does FHA have? I have spoke to a title company and thy didnt want to stick there neck out.