What happens if the property bought on a foreclosure auction has a second mortgage FL?

UPDATED: Oct 1, 2022

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What happens if the property bought on a foreclosure auction has a second mortgage FL?

What happens if I buy on a foreclosure auction a property which has a second mortgage?
The listing is only including the first mortgage 86k, however after performing some checks I can see that there is a second mortgage on the house 100k and additional debt for not paying community fees.
If I bid on the house and win the auction, will I have to pay the rest of the debt?

Asked on January 11, 2019 under Real Estate Law, Florida


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Yes, you will have to pay the second mortgage and any other liens; if you do not, then those creditors (e.g. the second mortgagee) will be able for foreclose on you. To get clean title, all mortgages and liens must be paid off.

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