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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 6845
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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Looking at property going to foreclosure auction on steps shows

Customer Question

looking at property going to foreclosure auction on steps shows 2 different security deeds filed for less that a month apart with one lender and one being a private party are both valid or would one take precedence property also has a 160k fifa lien would that be wiped out w/ foreclosure action or no
Submitted: 7 months ago.
Category: Real Estate Law
Expert:  Phillips Esq. replied 7 months ago.
I am sorry, but I do not understand your post. Kindly review, edit, properly identify your issue, add proper punctuation marks, and resubmit. Which lender with security interest is conducting the auction? Thank you for your cooperation,
Customer: replied 7 months ago.
an individual is foreclosing on a 100k security deed this morning. the clerk of courts also shows a 203k security deed from mers/Citibank filed within a month of first security deed. does either one take precedence? are both valid? can there be 2 open security deeds? there also shows a 160k judgement against the individual does the foreclosure wipe that out?
Expert:  Irwin Law replied 7 months ago.
Yes. The first recorded DOT takes precedence. That will usually be the MERS DOT. Every one of those liens could be valid and survive the trustee sale. I trust that you didn't submit a bid this morning, and that's fortunate. The rule is, never bid at a foreclosure sale unless you are absolutely 100% positive about what is going on. Maybe we'll get one the next time. Please don't forget to enter a rating by clicking on one of the five boxes at the top of this reply. We are not employees of Just Answer, and only receive credit for assisting you when the rating is positive. AND THANKS FOR USING JUST ANSWER.

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