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Updated over 5 years ago,

User Stats

24
Posts
6
Votes
Paul Nicklin
  • 20002
6
Votes |
24
Posts

Online auction for bank owned property title / mortgage question

Paul Nicklin
  • 20002
Posted

Hi BP, I am looking at an online auction for a bank owned property. Title shows some minor city judgements on the property ($2K). It also shows a mortgage of $105k in 2015 then this mortgage was subject to ASSIGNMENT in 2018 and then MORTGAGE FORECLOSURE late last year. Is the buyer of the auction liable for the city liens / judgements and the mortgage? Or because you are buying it bank owned, the mortgage is solved in the auction? Thanks in advance.

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