Tax Sale Forum > Questions and Answers

Existing Mortgage

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Canuck709:
I am considering making a bid at a public auction for a tax sale property, but I continue to hear conflicting stories about what happens to an existing mortage at the time of sale. Does anyone have any insight into this?

Rob:
From my understanding, all creditors listed received three notices.  They can respond and  make a claim to the city. Then they can secure a portion of the final price of the home which sometimes creates an extremely high reserve price.

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