They are receptive to the title holder and understand that they need to settle somewhere between 60 and 65% of the Fair Market Value.

A second lien has the same risks but also has a 1st lien in front of it that has to be paid off before the second lien holder gets anything.  

I would love to get back into something some day, but being a buy/holder is a bit challenging, and obviously being a fix/flipper is very challenging.

Courts of laws in most states treat them the same and due to their innate flaws, the owner/holder ends up on the short end of the stick, lesser to those rights and enforcement afforded in a proper mortgage or deed of trust.

Does it mean that you need to go thru the same process with all lien holders ? 

At this point I'd say I'm a buy/fix and holder, but looking to learn about other avenues and interested in national/international as well as local. 

Quiet title actions are Not intended to remove rightful title holders, or legitimate mortgages. 

Of course, there are strategies and games the pro HOA auction buyers play with the mortgage holders afterwards, as discussed with the attorney you referred me to, but the mortgage remains.

(My partner and I are both VERRRYYYYYYY long-term buy and holders, so even this 15yr period is much shorter than I plan to have this property.)Plus about $50K in my share of equity from the improved value on top of the rehab costs(conservative IMHO).

Certainly this couple would have been fine with just signing the property back over to the bank.I am probably going to do a basic title search this week and try to get a letter of authorization from the mortgage holders.