Foreclosures Discussion Archive 15

Trustee sale and second mortgages in Arizona

Posted by John Sanders on September 08, 2005 at 00:20:41:

I am looking into trustee sales at the court house. I have found where they are all listed in the newspaper but still have a question.

When the amount of the minimum bid is listed is this just the first mortgage ? And if you purchase it for this amount, are any seconds or liens wiped out by the forclosure sale ?

Do I need to research the title or deed prior to bidding ?

One last question, Is it possable to try to purchase prior to the forclosure auction / sale from the lender who is holding the title ?

Thanks to all who respond. Im just getting into this and am trying to learn as much as possable.

Thanks, John

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: I am looking into trustee sales at the court house. I have found where they are all listed in the newspaper but still have a question. 
: When the amount of the minimum bid is listed is this just the first mortgage ? And if you purchase it for this amount, are any seconds  or liens wiped out by the forclosure sale ?
: Do I need to research the title or deed prior to bidding ? 
: One last question, Is it possable to try to purchase prior to the forclosure auction / sale from the lender who is holding the title ?
: Thanks to all who respond. Im just getting into this and am trying to learn as much as possable.
: Thanks, John


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