Yes, the foreclosure will extinguish all liens, including 2nd mortgages, HELOCs, and judgment liens (liens from the property owner having been sued). The debts remain, if they were not satisfied or paid off, but that's a concern for the prior owner, since he or she will remain liable on them; they do not become debts of the person purchasing the property in foreclosure and, as stated, the liens against the property itself were extinguished.
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