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Updated over 5 years ago,
How to verify senior loan position?
Title says it all. Other than the obvious of paying a title company, for those of us who prefer to do our own legwork on this, anyone know how to verify that the loan you will be bidding on (foreclosure auctions) is in fact the first position loan?
Tried going to the county register of deeds- can see recorded activity regarding the title, but not sure if this includes everything, if seniority is purely by date or if later lenders can somehow take the first position.
Tried calling the trustees from 5 different firms- they all refuse to give this information.
There must be a method people are using to verify that they are in fact bidding on the first position... Trying to learn this step, any advice would be appreciated.
Thanks in advance.