Foreclosure in 01834>Question Details

Shauna Marco…, Home Buyer in Groveland, MA

I am looking into a house that is Pre-foreclosure right now. Once it becomes foreclosed and I can purchase

Asked by Shauna Marcotte, Groveland, MA Mon Jul 7, 2008

it, will I be responsible for any liens their may be on the property?

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5
Please see at least 2 Qualified Real Estate Attorneys in your area. They can do due diligence in regards
to this question
Web Reference: http://www.myclubrealty.com
1 vote Thank Flag Link Mon Jul 7, 2008
My best information is that a foreclosure should extinguish all junior liens, but a deed in lieu does not. Best to check with a real estate lawyer in your area.
0 votes Thank Flag Link Mon Jul 7, 2008
My understanding of foreclosure and liens associated a property is that an IRS lien and any local/state property taxes would survive the process. You should be able to go to the local land records department and see if any of these liens have been registered against the title.

Does anyone else have an opinion on this???
0 votes Thank Flag Link Mon Jul 7, 2008
No you can buy 100% interest from the bank after it becomes REO. You could even bid at the foreclosure sale. Good Luck!
0 votes Thank Flag Link Mon Jul 7, 2008
Yes, you take the baby with the bath water... unfortunately.
0 votes Thank Flag Link Mon Jul 7, 2008
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