701 W. Jackson #105 – Listed by Marty Phelan – Visit www.MyCondoTown.com to see all Chicago homes and also search FORECLOSURES! Keller Williams Realty … MyCondoTown “Marty Phelan” “Chicago Condos for sale” “Chicago Real Estate” “Chicago Foreclosures” “West Loop Condos”

A house is being foreclosed and posted in the news paper. I did a title search and the current foreclosure is for the second mortgage. Does anyone now what happens to the first loan. If I bid and won would I get the house.

I was under the impression only the first lender had the right to sell the house to secure their money and the second lender was left to fend for themselves / take it up personally with the borrower. I am confused as to why the foreclosure of the second mortgage is in the paper.

Thanks for any help.

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