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Updated about 8 years ago,
Sheriff Sale in Nj
Hello All, I am kind of new to the bigger pockets forum. Pardon me if any of my questions doesnt make sense.
I am interested to buy a sheriff sale property in Hudson county NJ. And here are my findings
First recorded mortgage is with Bank A for X amount and has earliest recorded date
And second mortgage is with Bank B for y amount and recorded date is after Bank A recorded date.
First mortgage ONLY got re financed by Bank C and has a new latest recording date.
Now Bank C is foreclosing the property, since Bank C has the latest recording date, if I bid and win this property, am i responsible for second mortgage amount, as the second mortgage BANk B recording date is earlier to Bank C ?
Little confused with these recording dates. I am trying to find a foreclosure attorney to discuss in detail but meanwhile can some BP experts throw some light.
Regards,