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Updated over 8 years ago on . Most recent reply

User Stats

42
Posts
5
Votes
Sandy Reddy
  • Real Estate Agent
  • Jersey City, NJ
5
Votes |
42
Posts

Sheriff Sale in Nj

Sandy Reddy
  • Real Estate Agent
  • Jersey City, NJ
Posted

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,

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