Foreclosure- Sheriff's Sale question
Posted by cg on May 22, 2008 at 13:56:52: Greetings:
I am considering a piece of property that has been forclosed on, and the sheriff's sale has been set.
The property title is showing (4) mortgages on the propety. Say that the first mortgate is $50,000, the second is $50,000 and the third and 4th mortgages total $25,000. There is also an additional judgement on the property for an additional $25000.
Say I were to successfully win the auction for $50,001, as the owner of the property, would I be held accountable for the other three mortgages?
Also the judgement?
The previous owner is deceased, if that makes any difference. Indiana State law.
Thanks in advance for taking the time to answer.
Follow Ups:
- Re: Foreclosure- Sheriff's Sale question - BJ 11:42:40 05/24/08
(0)
- Re: Foreclosure- Sheriff's Sale question - NJD 04:24:13 05/23/08
(1)
- Re: Foreclosure- Sheriff's Sale question (url) - Steele in Minnesota 07:44:02 05/23/08
(0)
