I am considering an auction property that is being foreclosed on by the 1st loan. It also has a 10K debt (not the first). The 10K note says, “PROMISSORY NOTE - STARIGHT - SECURED BY DEED OF TRUST”. Will I be liable for this debt if I purchase the house?
If the 10k loan was recorded after the 1st trust deed it is wiped out by the foreclosure of the 1st trust deed. Doesn’t matter what kind of loan it was.