Not saying a larger firm will be more expensive but junior attorneys may have less leeway to negotiate.Realize too, getting an attorney on board is a commitment that you make in your business, are you serious or too scared to really get into real estate?

What a small world, my son is currently a junior at the beautiful UW Bothell campus.

Junior position liens are usually wiped out in REO unless there is subordination going on behind the scenes.In a buy and hold rental deal, the numbers have to cash flow positive for investors to get excited.

Hello,I am a 2nd semester junior attending college in Newport, RI and would like to purchase a multi-family house to rent, as well as occupy one of the units myself.

I would have placed this thread in another place, like GETTING STARTED.Find a partner that has 5 years experience and be JUNIOR for 12 months, Read Rich Dad Poor Dad, work for understanding processes and procedures of your real world, not theory.Think like someone experienced: What do you have to offer me, the experienced professional?

Since only juniors and seniors can rent of campus, tenants will be there for at most 2 years.

The answer is: Lien Priority determines whether a lien survives foreclosure or not, along with state rules / laws on how priority is determined and what survives (even if junior to the foreclosed lien - some liens can still survive in certain jurisdictions).Most of the liens you mentioned would likely be junior liens, and would be extinguished at foreclosure.

The only thing that happens is that the first has nothing to do to satisfy themselves here ...The first position lien holder is always better off by foreclosing the first position lien, because that will extinguish the junior liens.

If the owner of the property has a mortgage balance greater than the value of the property, the value of that mechanic's lien is near zero.The lien priority or position of the lien - meaning seniority - is what is important in determining the value a lien might have; junior liens are only going to get paid after all senior liens have been paid first.

This letter will be needed to converse with the first mortgage,second mortgage,and all other junior lien holders.If you get all listed on one page then you do not have to keep getting an new ATR signed for each lien holder and can send the same one to each party.Your understanding of all that is involved to work a short sale is not complete and there is a ton of work behind the scenes.