Most states the liens are junior to the loan but not in our state..

I was a Junior at that point and just couldn't figure out how it made sense to go to school when I was earning more than my professors.

If they borrow money in this manner and you forclose, that junior leinholder must be satisfied before you can get full rights back to your propert (safely assuming they will default on that loan if they are facing forclosure).

This is where is gets interesting.Open Mtg1 - BAC Countrywide Home LoansOpen Mtg2 (junior) - JPMorgan Chase 5/31/11 - Sheriff's Deed on Mtg1 to BAC Countywide Home Loans6/11/11 - Quit Claim from BAC to Fannie Mae8/11/11 - Redemption Certificate - Redeemed by junior lien holder JPMorgan Chase paid in fullThe redemption certificate states, "The grantee's interest in said sheiff's deed has been conveyed to Fannie Mae."11/30/11 - Redemption Period would have ended hereAs of today, nothing else has been filed at the county.I've called Chase REO, they have no record of the property.I've called Fannie Mae REO, they have no record of the property.I've called the township treasure, 2011 summer tax receipt was paid by BAC.

Jasmine you need to get the basics down.Lender is usually just holding paper and not on title for the property unless they foreclose or do a DIL and take the property back.A property can have many mortgages by different lenders on it.Usually the senior lender in the first order of recording has senior position unless they grant a junior lender a superior position above them in a default workout but it rarely happens.

But you need the right situation with willing owners and no junior liens.The only way the buy the note instead of short sale really works is with bulk.

Also the existence of junior liens makes the non-foreclosure shortcuts much tougher even of the owner is willing.This strategy is one of those that seems like a slam dunk in theory but is not.

As a hard money lender I would not want to see a junior lien.

I have a high school senior, HS junior, HS freshman, 6th grader and a 20 year old finishing his second semester of local college after joining the National Guard.

In order to do so, you need to name all parties who would have an interest in the property as a junior lien in order to wipe them out.