I was wondering if someone could clear this up for me:
When you find a home in foreclosure, and it's listed at a deeply discounted price of $10,000. It's a NOTICE OF TRUSTEE SALE. Does that mean that you have to "assume" the mortgage payments and back taxes still owed on it too? In other words, is the $10,000 the exact price of owning that property, or is there "hidden" liabilities that I should be aware of?
If there are liabilities, should I negotiate with the lender/bank to eliminate it?