Foreclosure question - Posted by Scott

Real Estate Investing Real Estate Law
1

Posted by chet on December 27, 2004 at 14:34:24:

check you local rules, as they vary from state to state.

In CA there is no redemption period for the person that looses the house.

All junior debt is wiped-out unless it’s a debt that can’t be wiped like an IRS lien or past due taxes.

2

Foreclosure question - Posted by Scott

Posted by Scott on December 27, 2004 at 11:24:48:

I am located in Wisconsin and am looking to get some clarity on a couple things. If I bid and win on a property at the sheriff?s sale, can the previous home owner redeem the property within 6 months? If I am bidding to pay the 1st lien holder, will everything else be wiped out other than property taxes and federal liens?

Thank you!