If you are keen on going to college, I would try and buy a house your sophomore or junior year, and rent out the rooms to your friends.

Yes as long as the junior lien was properly named or notified in the Foreclosure.  

I'm curious the answers to these questions from note investors out there.Did you start in Senior or Junior?

In the event of a default my loan terms provide me the right to advance the payments on the (senior) first and add that amount to my principal balance and accrue interest on the advance at the default rate of interest of my junior note.So assume a default on both loans-(1st & 2nd) and I advance the payments on the first loan and add that to the balance of my loan, if I had to foreclose and I wipe any junior liens to my note and I'm the only one at the trustee's sale that bids, can I just continue making the payments on the first and rent the property out, or do I have to payoff the first.  

Hello everyone.My son is a junior in HS. 

I bought 5 more houses while a junior in college until we came across a property that we call “The Estate.”

that's why most contractors in Oregon if there is a bank loan and they followed lien procedures they are going to get paid.. in most state materialmen liens would be junior and just have their place in title by time of recording. 

But the effects of the second and other more junior liens or judgements is covered by local law.

There are ways to increase the likelihood of collecting on the note, such as including a confession of judgment provision and personal guaranty (or additional guarantors)... but it's just paper.If you insist on a secured position (recommended), you need to understand all that foreclosing a junior lien requires.

dont know the details but to answer your question if the bank forecloses she gets nothing.. this is true many times, but many times it is not. if there is a lot of equity and no junior liens the owner that lost it will get a big fat overage check..