What Happens To The 2nd Mortgage?
If a forclosure sale has 1 or more junior mortgages. If you buy at the foreclosure sale on the 1st mortgage What happens to the junior mortgages? Do you as the new home owner become obligated to pay those off?
they fall off. If the third forclosed, then you would be responsible for everything senior to it, ie. 1st and 2nd
sorry radio 52,
I see you answered my question on my other topic, thanks!