Tax auctions and Trustee Sales ?

[vero]

I want to know what is the difference of each?

Also if I win a property in auction for either do I have to pay the mortgage or is it mine at that point?
Also what is a mortgage foreclosure?

[bostonianinmo]

A tax auction is conducted by the government to recover unpaid taxes.  The seized property is sold to satisfy the tax debt.  If enough comes in to satisfy the debt, any excess goes to the property owner.  Not all jurisdictions sell the property outright, but sell the right to collect the unpaid taxes plus interest by issuing you a tax deed.  The owner has a redemption period during which he can pay off the debt and keep the property.  If they don't pay the debt within the redemption period, you have to foreclose on the tax deed.

A trustee's sale is a foreclosure sale where the property was pledged as security for repayment using a Trust Deed.  If you default on the mortgage loan, the trustee orders the sale of the property to recover the lender's money.

A mortgage foreclosure is simply the taking of property by the party with a security interest to satisfy a mortgage in default. If you don't pay your mortgage, the lender sells the property out from under you to protect their interests.

If you purchase property at a mortgage foreclosure or trustee's auction, you receive title to the property without further payment, except for any unpaid taxes, if any.

[golferwhoworks]

yes you get a cashiers check for the sales price and it is yours. in both cases.

[Brent]

Every state is different and has different rules.  Make sure to check at your county clerk's office to be sure how this works in your state.