I live in Florida.
My Ex-husband got our house in the divorce proceedings. He refinanced and I was removed from the deed - however, he was not able to get enough money to pay me all my settlement, so I'm owed $24,000 when the house is refinanced or sold. In addition, I received another judgment against him for about $4000 for unpaid bills.
Now his house is in foreclosure(for $185,000 plus fees, about $200,000) Both my judgments are listed as liens on the property, but they are subordinate to the original mortgage. The house is supposed to be sold at auction on 04/09/08. In this area, about 95% of the houses are bought by the bank so I'm assuming that the bank will buy the house at auction for $100 (starting bid).
My question is. . . will the bank have free title to the house at the auction? Will the bank have to pay off my liens in order to gain free title to the house? Or will they wait until the house is actually sold to give me my money?