A foreclosure auction doesn't erase every debt on a property: it erases the lien that started it and those below it. The foreclosing mortgage is usually the first (senior) one, so winning the auction makes that mortgage disappear for you.
The risk is what stays above it. Some liens hold priority above even a first mortgage regardless of date: delinquent property taxes, certain IRS liens within their redemption period, and some municipal fines. Those survive and pass to the buyer.
Which mortgage is foreclosing also matters. If a second mortgage is the one suing, the first stays alive and the buyer inherits it — a costly mistake if you didn't check. BIDROI analyzes the complaint and the public record to determine the exact position of the foreclosing mortgage before you bid.
BIDROI computes the Strike Price, the BIDROI Score, and the legal risk for every Miami-Dade property.
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