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Updated over 2 years ago,

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Implications of Buying HELOC in 2nd Position

Brendan Couture
Posted

Looking for some help. I'm looking at buying a secondary lien (HELOC) via foreclosure auction.

Would I then have the right to pay off the first lien and own the property outright? That would be my goal.

The owners have a recent loan modification on the primary lien claiming hardship, but not sure that would matter if I own the secondary?

Any help would be greatly appreciated!




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