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Foreclosure auction by first lienholder with second lien.

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sue1733 Joined: 04 Sep 2010 Posts: 1 1.00 Dollars($)	Posted: Sat Sep 04, 2010 12:20 pm    Post subject: Foreclosure auction by first lienholder with second lien. Like 0 Dislike 0 If we buy a house at foreclosure auction and is or was (when we tried to purchase it) a second lienholder, is that wiped out at the auction or would we have to contend with the second lien?This is in the state of North Carolina. Would appreciate anyone's knowledgable input.
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun Sep 05, 2010 10:06 pm    Post subject: Like 0 Dislike 0 Hi sue, You will have to ask the previous owner of the property to pay back the second lien holder. Once he pays off the second lien, it will be removed from the property and the title will be free and clear of the second lien. _________________ Procrastination is the enemy of your financial success

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