@Leslie Fisher Not always correct, it depends what position the lien that is foreclosing is in, and if they have any superiority, if a first lien forecloses, all junior liens are foreclosed out, there are a few kinds of superior liens, like property taxes, and municipal charges,  water bills, snow removals or noxious weed cuttings. as well as cretin other tax liens, like federal or state tax liens for things like unpaid sales tax, withholding, and sometimes delinquent income tax, there are often remedies to get these removed after the fact, but there is no guarantee the taxing authority will release it. 

They not only deal with the bank, but they know how to package the hardship package from the borrower, know how the deal needs to be presented, structure the contract to deal with junior liens, “negotiate” (know how package the pay offs, etc) with the lien holders, etc.The listing agent often handles this function, if they are experienced.

Only the borrower and/or junior lien holder (or their designee) can make a demand request for the balance on the first.

Junior 

@Michael Junior do you have any experience with these types of rehabs ?

As in the title, I am a 20 year old and rising Junior at Notre Dame.

I would offer the deal for a deeply discounted wholesale fee, IF the investor would let me shadow as a junior project manager.

So that will be really nice. if your doing a refi and taking out HML and junior loan in a short amount of time.. then that is a completely different model and much safer for the second position.. its the same theory that apartment syndicators use..  

The bank’s mtg/lien no longer exist and any junior liens should have been wiped out by the foreclosure.

By the time of my junior year I’d like to begin investing in real estate starting with a duplex/triplex and expanding on to other rental properties.