Liens against Foreclosed House

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Liens against Foreclosed House

08-08-2012, 10:14 PM

MBlovr

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Join Date: Sep 2000

Posts: 301

Liens against Foreclosed House

I am interested in purchasing a house which is going to Sheriffs sale. The county recorder's offices shows federal tax liens in addition to the mortgage. So first of all I assume that if I buy the house I will be inheriting the liens as well. What happens if the bank ends up with the house?

Part of what I am looking to understand is when there are liens on a property in addition to a mortgage and the property sells for less than the first mortgage holders interest at what point are the additional lien holders out of luck?

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MBlovr
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'62 220SE Coupe second one
'89 190E 2.6 5spd third one
'06 E350 4matic (sold)
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