Second lien holder and house being foreclosed

[Bananahead289]

What is the name of your state? Florida

My Ex-husband got our house in the divorce proceedings. He refinanced and I was removed from the deed - however, he was not able to get enough money to pay me all my settlement, so I'm owed $24,000 when the house is refinanced or sold. In addition, I received another judgment against him for about $4000 for unpaid bills.

Now his house is in foreclosure(for $185,000 plus fees, about $200,000) Both my judgments are listed as liens on the property, but they are subordinate to the original mortgage. The house is supposed to be sold at auction on 04/09/08. In this area, about 95% of the houses are bought by the bank so I'm assuming that the bank will buy the house at auction for $100 (starting bid).

My question is. . . will the bank have free title to the house at the auction? Will the bank have to pay off my liens in order to gain free title to the house? Or will they wait until the house is actually sold to give me my money?

And if I end up not getting any money from the sale of the house - how do I go about trying to get it from my Ex?

[BoredAtty]

If the house sells for an amount less than or equal to the mortgage, then your liens are wiped out. If the house sells for more than the mortgage, then you'll get some or all of your money.

If your liens are wiped out, then you'll need to get your money by other legal means (e.g. wage garnishments).

[seniorjudge]

Originally Posted by BoredAtty

If the house sells for an amount less than or equal to the mortgage, then your liens are wiped out. If the house sells for more than the mortgage, then you'll get some or all of your money.

If your liens are wiped out, then you'll need to get your money by other legal means (e.g. wage garnishments).

Which means our poster may have to go back to court and get the judgment in her lawsuit modified.

[nextwife]

Originally Posted by Bananahead289

Will the bank have to pay off my liens in order to gain free title to the house?

Who must pay off whom is based upon priority.

If YOUR lien were the first position lien (in place in FRONT of the first mortgage) and the mortgage were now foreclosing, yes, they'd need to pay you off. However, your lien occurred AFTER their mortgage already had a first position, thus you only get paid off IF there is enough left after everything in front of you is paid.

OR you can go to Sherriffs Sale and pay enough to pay off that lender and get the house. Which is what some parties in second position do.

[Bananahead289]

Originally Posted by seniorjudge

Which means our poster may have to go back to court and get the judgment in her lawsuit modified.

So what does that entail? I know the area and the house will most likely be bid on by the bank for $100 (that's what is happening here with just about every house). I know my liens are behind the first mortgage. I actually represented myself in the lawsuit for the nonpayment of debts and won. I imagine I will have to get a wage garnishment (it's like getting blood out of a stone). I believe that is just a form that I fill out and pay $250 or so (which I don't have because I'm paying off all these debts he was supposed to pay off).