Mortgage Lien priority question and answer

Question:

Thank you.

I just bought this property at sheriff auction today.  I am having a hard time understanding from this report what outstanding liens are on this property.  I am very worried that I may not have bought the primary mortgage.  If I bought the secondary mortgage, then the primary does not get discharged.  But if I bought the primary, then only county and condo association liens will survive.

The auction was for:

PlaintiffWILMINGTON SAVINGS FUND SOCIETY, FSB, DBA CH
DefendantELIZABETH N. H.; MARK H.; CITIBANK
Judgement$338,911
CourtCaseF-2899551-10

I see that court case shows up in the report, but there’s many other forclusures before as well.  Also the defendant listed includes Citibank as well.  Btw, the property in the county records has the name of Ossnatto, which is her maiden name.

Can you please help me read this lien report, I probably won’t be able to sleep tonight if I don’t figure out what my situation is.

Thank you,

Eugen

 

Answer:

Hi Eugen, there is (from what I can see) a first and second mortgage on the property. All liens would have to be satisfied from what i understand before a first lien position can be recorded. I would however suggest calling the attorney listed in the transaction history and/or the auction company you bought the property from to confirm the property’s financial situation and buyer obligations.
Thank you,
Mark S.
Customer Support Team
Client response:
Thank you Mark.
In the transaction history,  I see 4 mortgages.  How do I know which liens are still active on the property?  You said you can see a first and second mortgage on the property?  Which ones are they?  The Citibank/Citimortgage, or the Mortgage Assoc/National CTY bank.
Other than lien history, do you have a snapshot of what the current liens are?
6 07/20/2005 MORTGAGE 1313319-2323 CITIBANK FSB
05/13/2005 MORTGAGE 12833242-1736 CITIMORTGAGE
9 04/13/2004 MORTGAGE 1122359-2535 MORTGAGE ASSOCS
10 04/13/2004 MORTGAGE 1133359-2378 NATIONAL CTY BK
Thank you so much for helping me.  I don’t know if you can imagine how worried I am right now.
Regards,
Eugen
Answer:
Because there can only be ONE first position mortgage which would be the most recent mortgage (30 year conventional) listed in the transaction history.
Thank you,
Mark S.

 

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