Legal Question in Real Estate Law in New York
foreclosure
If a house that has a 2nd mortgage on in and is foreclosed on, sold at an auction, would the current owners have to pay off both lones to get a clear deed?
Asked on 6/20/08, 1:41 pm
1 Answer from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: foreclosure
No. The foreclosure sale extinguishes the liens.
Mike.
Answered on 6/20/08, 4:31 pm
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