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Updated over 7 years ago on . Most recent reply

Account Closed
2
Votes |
3
Posts

Home with previous mortgage!

Account Closed
Posted

Hello Everyone,

I have come across a home that may be on sale for a significantly low value. Of course the home needs work done. However, the reason I created this post is for information about the buying process.

I previously looked up the house and saw that about 2 years ago it was in the foreclosure process. For an unknown reason the foreclosure process didnt fully complete and the owner maintained ownership. 

Recently, I heard that the home will be for sale at a very low value. 

If someone were to purchase the home would the mortgage still be tied to the property? If so can the mortgage company start foreclosure process with the new owner? I am in Florida.

Thanks!

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