My FHA loan house was foreclosed on last year. It was purchased at auction by another bank. Do I still owe?
The sale was final in September 2007, and it sold for about 280,000 (which was the minimum bid). I owed approximately 260,000 on it when it was foreclosed. I also had a second mortgage for about 20,000 with another bank.
The second mortgage shows on my credit report as “charged off”.
My questions are: Who, if anyone, is likely to come after me for money? And, would the foreclosure sale have covered the second mortgage as well? Or was the minimum bid more than what I owed because of another reason?