All Forum Posts by: Matt Pfefferlen

Thanks all.  From what i have read i feel confident i can pay off junior lien and that there is a defined set of rules that ensures this.

Rich H. - You mention a case where they could initiate a foreclosure.  That is fine with me as long as i can pay it off and stop it.  Are you saying there is a chance that there is a foreclosure that i cannot stop?  Basically that $15k loan  could foreclose and i would have to bid with others on it even though i am on the deed and satisfied all other lien holders with my foreclosure purchase.  

I feel like i have done my research and can stomach any risk that come along with this type of risky investment with the exception of losing me entire 600k investment.

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?