buying a foreclosed home on the second mortgage

04-01-2005, 03:45 PM

Susan Pohlo Susan Pohlo is offline

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Join Date: Apr 2005

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buying a foreclosed home on the second mortgage

What is the name of your state? Georgia. The second mortgage on a home is being foreclosed on this month in my state. If I buy that home at the foreclosure auction, what happens to the first mortgage on that home? Am I responsible for the payments? Can the first mortgage holder foreclose subsequently on the property leaving me with nothing?

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