Federal National Mortgage ***'n, 462 Mass. 569 (2012)"The meaning of the term "mortgagee" as used in the statutes is not free from ambiguity, but we now construe the term to refer to the person or entity then holding the mortgage and also either holding the mortgage note or acting on behalf of the note holder."

Generally, the first lien holder’s foreclosure (the bank) cancels any subservient liens.

From my understanding there are very strict rules about you the account holder not being able to service the project or investment in any way. 

All the JV visas were cancelled.

Definitely explain to lease holder that he could face an eviction because he broke the lease terms.

While they are at it, they should force the mortgage holder to refinance the mortgage at 0%.

The due on sale clause gives the mortgage holder the right to call the note due - but they usually don't if it continues to be paid. 

I see your in NY  if its a NY property that does limit your choices NY is one of the most dangerous markets for HML Vis a vi you have a loan go bad and its forever to foreclose.. so that gets priced in.. along with many simply wont lend there I know I never have and never would same with NJ  just have to find folks that know and like that market..  

We understand that delinquent taxes go to auction and are purchased and the owner of the property has a certain amount of time to make the certificate holder whole plus fees and interest.

Citibank issued me a MC when my Visa expired.