Condo Association Foreclosure Question??

If you-all can tolerate another dumb question, here goes...
A condominium Association is foreclosing on a condo for unpaid dues. The condo owner also has a mortgage that he took out in 1999. I know that when a first mortgage is foreclosing, the second mortgage is wiped-out, correct? What happens with the mortgage on this condo when it is sold at auction for the back condo dues? Must the mortgage be paid by the new owner? Thanks!!!

Comments(1)

Add Comment

Login To Comment