How do I know if I’m responsible for a second mortgage When Buying a Foreclosure home when the bid amount is lower the than First and second combined? I’m concerned of purchasing this home at auction and then being reasonable for an additional mortgage which eliminates the any value in the home.

First, mortgage laws are based in state law, so you need to consult a real estate attorney or the state laws dealing with foreclosure in your state. Some states have redemption periods for foreclosure sales. Usually, if there is a deficiency, the mortgage company will go after the prior owner who defaulted on the mortgage for any deficiency, not the buyer at a foreclosure sale. Still, you need to check on the law for your state.