Debt) ?

Q: I am looking at a house going to foreclosure auction in Georgia (to live in) and have some questions regarding the title. Any help would be appreciated. 1. The house has a first and second mortgage. The foreclosure is on the first mortgage. If we buy the house will the second mortgage holder have any recourse to collect the debt from us ? 2. I have been to the local courthouse and traced the title in the deed records for liens. Other than the first and second mortgage, nothing has been recorded. Is there any other way there could be other liens against this property and where would they be recorded (for instance an IRS debt) ?

A: is on the first mortgage. If we buy the house will the second mortgage holder have any recourse to collect the debt from us ? the deed records for liens. Other than the first and second mortgage, nothing has been recorded. Is there any other way there could be other liens against this property and where would they be recorded (for instance an IRS debt) ? Im not an expert in this area, so don't rely on this. It's just discussion to help you with further research. I seem to remember that forclosure by the first mortagee extinguishes all subordinate liens. What happens, I think, is that the money you pay for the

house is used to pay the first and if anything is left it goes to the second and if anything is then left it goes to the prior owner, and the second lien is extinguished. Anyway, you can find out in several ways. First, buy a title insurance policy. The insurance policy will list every encumbrance and you'll see it before you buy. Second, ask a local attorney. The question is simple, and an experienced attorney will be able to answer without research, so it won't cost much. Third, wait for someone more knowledgeable to answer this post. On the second question, I'm guessing again, but it seems to me that unrecorded liens don't count unless you know about them.