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Updated over 8 years ago,

User Stats

52
Posts
3
Votes
Matt Pfefferlen
  • santa monica, ca
3
Votes |
52
Posts

Buying a Junior Lien

Matt Pfefferlen
  • santa monica, ca
Posted

Hello- I am in California and am looking at buying a foreclosure at a trustee sale.  The loan foreclosing is in second position and cost is $600k.  The loan in first position is roughly $20k.  The house is worth 875k.  I am looking for assurance that i can pay off the first lien and get the house free and clear.   What is the process or legally what is in place that allows me to pay off the first?  Will they deal with someone that is not on the loan?   if the first lien starts foreclosure, who would get the notice of default?

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