All the ones I have seen and (purchased) on the courthouse steps have the
sheriff selling the mortgage. If the borrower comes up with the money during
the redemption period, you get it and interest back, and the person redeeming
the mtg. owns the property. The buyer on the CH steps only gets the
property a day after the redemption period has passed.
If a second mtg holder doesn't out bid the first mtg holder at the CH
steps, they loose everthing.
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