Lien on a property
Posted by Tom on October 17, 2007 at 09:37:09:
I went to the auction in the court for sheriff foreclosure sale. Many properties there, but nobody bid. All the houses were taken back by the banks. Why no body bid? I know a property that has $140,000 loan in 2006, however, in 2004 the loan amount was $110,000. I guess the owner re-financed when the value of the house increased.
My question is if this house is in auction, is there any lien agianst it? Shall the buyer be responsible for such liens? If there is no other liens, will the bank be willing sell at discounted price? Your comment is appreciated.
Follow Ups:
- Re: Lien on a property - Christopher 11:07:53 10/17/07
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- Wow, so many new terms. Thank you so much. - Tom 12:57:24 10/17/07
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- Re: Wow, so many new terms. Thank you so much. - Christopher 13:34:23 10/17/07
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