If I purchase a foreclosed home, do I have to pay off the mortgage on that house?

If the price of the house, does not cover the mortgage, do i also have to pay the mortgage as well. If someone gives a website where I can look at this, it would be great.If I purchase a foreclosed home, do I have to pay off the mortgage on that house?
No. That is a loss to the bank.If I purchase a foreclosed home, do I have to pay off the mortgage on that house?
When you buy a foreclosed home, you do not have to make up the shortfall for whatever the last owner owed.


I am not sure I understand your question


If you are approved for a certain mortgage amount and the house costs more, you either have to get the seller (bank) to come down in price, or you have to put more money down to get to your mortgage limit.
if the house is already ';foreclosed';, then you must be talking about buying it in an auction, OR, buying it from a bank after it takes back the house. In either case, you have no connection with the previous owner's mortgage.

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