QUESTION

I'm bidding on a foreclosed property that will be auctioned, but it has a second mortgage. Would I still have to pay the second mortgage?

Asked on Aug 30th, 2012 on Real Estate - Florida
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1 ANSWER

Depending on how the foreclosure was handled, a successful bidder could still have liability for second mortgages, property taxes, and a variety of other liens and interests.  An experienced real estate attorney can review the foreclosure complaint, order, etc. and obtain a title report to give you some idea of what liabilities could remain after the foreclosure sale. This is specific to Florida law and does not constitute legal advice as the facts presented are anonymous and incomplete. This is intended for general education only and does not create an attorney-client relationship. This should not be relied on and you must seek your own attorney client relationship.
Answered on Sep 04th, 2012 at 9:13 AM

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