Buying property on court foreclosure with lien and mortgage

UPDATED: Oct 1, 2022

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Buying property on court foreclosure with lien and mortgage

I’m interested in buying a house on court auction foreclosure in Florida. Reason
for the foreclosure is HOA lien, but there is also a mortgage. If I buy the house
on the auction, the money will be used to pay the HOA lien, but what will happen
with the mortgage, do I inherit, and will I have to pay that mortgage?

Asked on September 28, 2018 under Real Estate Law, Florida


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

The security interest in the mortgage goes with the house. If the mortgage is not paid, the lender can foreclose (take the house, which was provided as security to ensure payment of the loan). While they cannot sue you personally for the money, since you were not a signatory to the mortgage, you can and will lose the house if the mortgage defaults (is not paid).

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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