In either case, since the HELOC lender is recorded prior to the mtg being foreclosed the lender is neither a necessary nor proper party to the foreclosure since it has priority of record.In this kind of situation, where the third lender's money went to pay off the first lender's money I frequently used a theory called equitable subrogation to defeat the priority of the second lender. 

Adding properties frequently so would need to continue the relationship. 

It's just not true that it's "recession proof", and it's dangerously misleading to say that it is to all of the novice investors that frequent this site.  

Action stepsIf you’re in a GP in a syndication, start communicating frequently with your limited partners.

Someone like a CBRE, Cushman & Wakefield, Marcus and Millichap are three national CRE brokerages, and quite frequently have entry level roles available in various teams. 

@Evan Polaski Been out of US for nearly 15 years and rarely return, so I have to be realistic that I would be unlikely to make frequent trips.  

Granted, I don't frequently have tenants moving out.  

People frequently make the assumption that when you own property, you're "rich" (for lack of a better way to put it).

With an agreement to extend the term, lenders will also likely tighten the requirements of the loan, possibly by requiring more frequent financial reports or other additions.Moratorium on foreclosure?

I fear a lot of that is going to happen in the lower end rental world.. where those folks are pay check to paycheck and are very accustomed to moving annually and or frequently.