Lien Status Florida Foreclosure Need Help Asap
i have a property going to foreclosure sale tomorrow , my question is their is the first lien holder foreclosing through m.e.r.s and their is also a second lien holder through the same bank and the same date and same time listed as an additional lienholder , foreclosing lender is fremont investment and loan but m.e.r.s is handling foreclosire as 1st lien holder , now title search shows a 2nd lien in the sum of 48k listed as fremont investment and loan showing next in line lien recording at same time and same date as frst lienholder?? am i to assume 2nd will be wiped out after sale even though 1st and 2nd are recorded on same day??? need response asap??
What is the book and page numbers of the foreclosing mortgage as recorded?
What is the book and page number of mortgage not being foreclosed?
Quote:
On 2005-10-21 00:13, dannynj wrote:
... their is the first lien holder foreclosing through m.e.r.s and their is also a second lien holder through the same bank and the same date and same time listed as an additional lienholder , foreclosing lender is fremont investment and loan but m.e.r.s is handling foreclosire as 1st lien holder , now title search shows a 2nd lien in the sum of 48k listed as fremont investment and loan showing next in line lien recording at same time and same date as frst lienholder?? ...
I am confused ... is fremont investment and loan "the same bank"/lender on the 1st AND 2nd?
bargain,
my compliments ... you understood that he is BUYING at foreclosure sale.
I thought, HIS property will be foreclosed, got totally confused with "the same bank"
bargain thanks for your immediate response and knowledge , unfortunately this sale was cancelled last minute,it looks like owner in default reinstated last minute ,on that note my partner and i just purchased another foreclosure yesterday ,it was laid out pretty simple just a notice of commencement recorded and a lien to the homeowners assoc, first in line though was the mortgagee who was foreclosing ,no seconds. the home had alot of equity but it was fierce bidding which took a chunk of the equity but nonetheless my partner secured the winning bid, comps look supportive in the area and we still bought at a discount despite the aggressive www.bidding.thanks for all your responses i grealty appreciate them.
i will keep you all posted on the deal