Linda: It sounds too good to be true. Where did you see the add for this home. Probably, as Fred replied, this could be only one of the liens on the property. If you need some help, please e-mail me at fancydog@san.rr.com or call me at 619-392-4344 with a little bit more information. Thank you. http://www.besthomesinlajolla.com

Linda,
You are most likely looking at a 2nd or 3rd or other junior trust dee that is being foreclosed on. You would be responsible for the senior leins if you bid on this property at a trustee (courthouse steps) sale. If you want to buy, I can recommend a specialist in buying bank owned (REO) properties. Let me know if you need more information or the name of a good agent. You can call me 619.507.5688 or e-mail me. More information is available on the links below. Good Luck.