I purchased a home from a sheriffs sale in Georgia. It has a mortgage. What are my rights now?
Question : I purchased a home from a sheriffs sale in Georgia. It has a mortgage. What are my rights now?
What did I purchase, since the previous owners still had a mortgage?
georgia mortgage
Best answer:
Answer by efflandt
It depends whether you bought it at a foreclosure auction or a tax sale. If it was a foreclosure auction, then the previous owner may still be responsible for a deficiency, but any mortgages should be erased from your standpoint. Although, any property tax liens may still stand.
If you bought a property tax lien, then you have to follow procedures for that, and if neither the owner nor lender pays the tax and penalties within any redemption period, eventually you should be able to get clear title to it. But I have not researched how that is handled in Georgia.
Well, if you purchased it, you own it. If there is a lien (mortgage) on it and was when you bought it, then you better keep on paying it if you want to keep the house. (Who advised you on this, Donald Trump?)