quick question about Tax deed foreclosure

[Linda Burgin]

Hi all,

I have purchased tax deeds in other states but I have always wanted to buy locally in Florida. I do not fully understand the process here. Can someone please explain to me what happens once the property is sold at Deed foreclosure auction? Where does this money go? I know the tax lein holder gets their money back plus the interest amount they won at the bidding process, but who gets the rest? Does it go to satisfy mortgage? This makes no sense to me since all mortgages are blown out at foreclosure so I don't get where this money goes? Can someone just help me out here with info? I have read several sites about the process and how it works but this question still remains? I have missed something somewhere??

Thanks