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Updated over 8 years ago,
Help with owner and encumbrance report
Found a house coming up for auction soon and purchased Next Ace report. I was hoping someone would help explain how to understand the mortgages and liens section. The auction (Dekalb County Georgia) states the 'main' lender as the one doing the auction, but there are several others listed on the report and I'm trying to find out how they might affect the title and other costs involved. We are not really investors but have bought and sold 2 HUD homes in the past. This one would be for us. I've pasted some of the report below.
Could someone help us understand what risks the other items might have or resources so we can figure it out?
1. A deed of trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby
Dated: December 21, 2000
Amount: $136,572.00
Trustor/Borrower:
Beneficiary/Lender: Commonwealth United MTG
Recording Date: January 12, 2001
Assigned To: Midfirst Bk
Recording Date: December 02, 2013
Notice of Trustee's Sale under said Deed of Trust
Recording Date: June 09, 2016
2. A deed of trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby
Dated: December 20, 2000
Amount: $13,200.00
Beneficiary/Lender: First Union Nat'L Bk
Recording Date: January 12, 2001
Recording Date: March 03, 2016
3. A deed of trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby
Dated: January 19, 2010
Amount: $16,368.00
Beneficiary/Lender: Hud-Housing/Urban Dev
Recording Date: February 12, 2010
4. A deed of trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby
Dated: June 12, 2013
Amount: $15,566.00
Beneficiary/Lender: Hud-Housing/Urban Dev
Recording Date: July 08, 2013
Is there a way to find out how much of this would be perhaps the responsibility of the new owners?