you might be able to get a heloc as well as long as the 1st position Deed to secure debt does not have a no junior loan provision in it... 

On the other hand I have found it useful in many cases to be the property manager (or junior co-owner) rather than "the decision maker".

If done properly foreclosure auction will wipe out all junior liens and title will transfer to the buyer.. the title issues go away..your probably talking about those that buy on auction .com or other auction sites that will only give QC deeds or sellers that try that stuff as well on unsuspecting buyers.

We live in Syracuse and my Junior in HS is looking to go the local college Syracuse University.  

Personally I don't lend or buy junior position.

Rate structure - Rates are different for junior associate attorneys, senior associate attorneys, junior partners and senior partners.  

Welcome to bp Junior I'm also from Tampa as well read the ultimate beginners guide and also listen to podcast ask question in forums from the the pros they are willing to answer your question . read alot of Rei you will learn Good luck in Rei.David c.

Also, some junior liens will get wiped off the title if you buy a senior lien at the auction. 

Part of that equation are negotiated pay offs to junior lien holders, HOA's, etc.   

If you're really interested, do some research....review the actual foreclosure file, see if they are trying to reopen, missed a junior lien, etc.