Junior trust deed lien holder forecloses; note owner of the senior abandons property, senior loan is delinquent, property value upside down.

Any negotiations will be handled through the new debt holder. 3) File civil action.

First with my buyer, he paid his $15,000and left with a smile. 30 minutes later, I met with the seller and the lien holder.

At that point the lender is at the end of their rope with the owner and is very unlikely to bargain.... and if they do, you have to prove that the owner is getting NO MONEY out of the deal.A short sale is extremely likely if they are a junior lien-holder and the 1st lien-holder is the one that has filed the foreclosure.

Do all lien holders need to be notified before foreclosure?

You might want to look into forclosures where the taxing authority or lien holders are seeking remedies from the XYZ or the heirs of XYZ.Personally, when I first went into the business I needed money yesterday and couldn't fray the cost of long range experimentation.

I've put together a very complete and professional short-sale package, and sent copies with all docs to both the 1st and 2nd lien-holders (who are each big lenders).

Visa/Mastercard accepted.I am also a licensed real estate agent.

Anyway, I figured that after purchase price, just shy of 20k in rehab, and reasonable holding costs, the profit would come in at 34-38K so I put the property under contract and proceeded to look for a buyer.I was given the name of an experienced rehab and holder and contacted him about the deal.

The primary stock holders in the company filed personal bankruptcy and even though the corporation did not file chapter 11 the property was taken since they were the primary share holders.