Wyoming judgement lien

[zack9_99]

What is the name of your state? Wyoming

I have a judgement lien on a piece of property in Wyoming. The bank with a mortgage is foreclosing and my lien is second in line, with the IRS, third. The property is worth $75,000. The bank's mortgage is $50,000 and my lien is $6,000 and the IRS is owed $300,000.

I am curious:
1. What is the process that bankrupcy will go through?
2. Do I loose my rights to my lien?
3. I have seen the notice of a bankrupcy sale in the paper, since I am recorded as a judgement lien, should I have been notified?
4. Do I need to bid on the property at the auction if I want it? If yes; can the public out bid me?
5. Is there anything else I should know or be aware of?

Thanks for your help.

[JETX]

Originally Posted by zack9_99

What is the process that bankrupcy will go through?

What bankruptcy?? Your post is about a foreclosure!!

Do I loose my rights to my lien?

Depends on whether you are talking about a bankruptcy... or a foreclosure.

I have seen the notice of a bankrupcy sale in the paper, since I am recorded as a judgement lien, should I have been notified?

Depends on whether you are talking about a bankruptcy... or a foreclosure.

Do I need to bid on the property at the auction if I want it? If yes; can the public out bid me?

Depends on whether you are talking about a bankruptcy... or a foreclosure.

Is there anything else I should know or be aware of?

Depends on whether you are talking about a bankruptcy... or a foreclosure.


Thanks for your help.[/quote]