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I bid on a foreclosed home in CO, then a second mortgage was found, now what?

Thursday, July 23rd, 2009
Elizabeth asked:


Me and my husband just put a bid on a home in colorado, then the day before closing, the title company ‘found’ a second mortgage. Now we are waiting for them to settle it? In the mean time we are staying in a hotel, because are lease expired and are looking into renting again. How long is this going to take, and how did the seller not know about a second before it went to auction?

Brandon
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