Where can I research multiple mortgage foreclosure auctions on the same property?

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Where can I research multiple mortgage foreclosure auctions on the same property?

My wife and I bought a foreclosed property in FL in June 2008 at a courthouse auction. Apparantly there was a second mortgage on the property and that is what we unknowingly bid on and won. One year later we find out that the 1st mortgage, which we knew nothing about, was auctioned off and now we are being forced from the property. We were advised to stop making mortgage payments and that the title insurance company would be held responsible. There has to be a law out there to protect “the unknowing” in these matters. It seems to me that all I won was somebody else’s debt.

Asked on June 2, 2009 under Real Estate Law, Florida

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

You should have done your due diligence.  If you had looked closely, the auction ad or docs would have told you what you were bidding on.  Further, you should have also conducted a title search or deed search prior to purchase or auction.

Why do I say the above? Because depending on how titles are recorded in your state and how the ad was, you may be precluded from recovering from anyone. 

In terms of someone telling you to stop making payments, that is pure absurdity.  Why would you knowingly breach the contract to then wind up impacting your credit>?

You are in second position, so of course you could be forced from the property.

You can try the following:

1. Florida Office of Financial Regulation: http://www.flofr.com/

 

2. Florida Attorney General's Office: http://myfloridalegal.com/

 

3. Federal Trade Commission: http://www.ftc.gov/

4. www.attorneypages.com and check his or her record at the Florida State Bar.


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