The new loan is junior to any existing loans.

I've never heard of the Cubs I think it's a high school team on Chicago's north side, junior varsity.

To pack them all up to move 1,000's of miles away, removing my daughter from her Junior High and all her friends does not make it "possible" for me.

Anyone out there with experience of taking a property subject to after purchasing a junior note at a discount?

Junior lienholders will typically only do an exterior BPO and therefore the values are off.So it looks like your next step is to hammer the first mortgage on the approved price.

Is there a way to research for junior liens (judgments, mechanic liens etc) without going to the courthouse?

I am assuming you are an astute investor and that there is an inherent value in purchasing a junior lien that far outweighs any off-setting risks.

(You should think about doing this project with your investor as a "junior partner" and learn all you can) And, rememeber me when you or your investor is looking for hard money in Chicago.

Assuming things work in MA as they do in AZ, the foreclosure will wipe out all junior liens.

In this scenario, the senior lien was paid off with the foreclosure.Another possible scenario is that the foreclosure was on a junior lien, in which case the bank with the junior lien has to pay off that senior lien.