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03-31-2009, 07:10 AM
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if i purchase a tax foreclosure property in a...
...county auction what happens ifit still has a mortage? tax deliquent propertys are suppose to be free and clear...what happen if i purchase a house in a county auction thats owes 10 thousand in taxes but it still has a mortgage left on it ?wouldn't the original lender (bank) of the house intervened first before the county?
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03-31-2009, 08:56 AM
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The mortgage has nothing to do with you. That's a contract between the mortgage company and the previous owner. You cannot be drawn involuntarily into that.What you pay at the auction is it, plus any outstanding liens on the property, so do a title search first because there are likely unpaid taxes and other liens on it that could surprise you, but not the mortgage.
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