Can someone define senior vs junior loan?

Basically, it says - "Borrower understands the lender is the owner of the senior mortgage and obligations secured thereof"... and then... " if any interest in the property is subject to a junior mortgage without lenders express consent"...

Who gets it.....junior lien holders first, and if no junior lien holders then the owner gets it, as they should.

Also you might want have some more senior people in the house... this would keep the more junior people in line (in theory).

It has a Department of Revenue lien (on a junior position) that brings our cost of acquisition higher that we want to pay for the property.

If the HOA sells the property at auction, the buyer (you) assumes responsibility for the liens.Only tax liens are in "zeroth" position - they always supersede all other liens which get wiped out in a tax sale.When a lender forecloses, all junior liens are wiped out, all senior liens remain.

@Alex Deacon I understand that the 1st lien holder has priority once foreclosure actions have already been taken, but are there any limitations to the actions a 2nd holder is able to take simply because they're in a junior position?

Keep in mind, I was in the Navy and did a lot of inspections of junior Sailors so I learned a few tricks here and there.

Since then my oldest daughter has married, my oldest son has graduated and moved to Oregon, my youngest son has Angelman's Syndrome and we haven't quite figured out the right job for him to do.That leaves my second oldest son, a Junior in high school who is actively involved in Cross Country running and working as a life guard at the pool, along with a full load of classes. 

I'm currently a junior in college and am looking for a different part time job that I can hopefully carry out through college and into the beginning of my career.