In this next thread, you will find links to contributions from @Rich Weese on his TX foreclosure auction buying.http://www.biggerpockets.com/forums/41/topics/6897...In general, if the junior liens are given proper notice of the foreclosure that the senior lien is auctioning, then the junior lien is extinguished; the lien being extinguished simply means the the debt can no longer be attached to the real estate - in no way does that eliminate the borrower's obligation to repay the remaining debt owed to the junior lender.  

Much more so if there is a lender junior to the lien.2.

In the summer after my junior year of high school, when I was 17 years old, I began taking real estate licensing courses.

@Junior Salters @Andrew JohnsonThanks for the responses. 

I'm in a multiple offer situation so I don't have time to grab the HOA docs to look into their budget, but will do all of that during Attorney Review - this way if there is a red flag I can back out.The location is great - a suburb that was not hit as hard during the recession - walk to the train to get downtown - close to parks/elementary/junior high. 

I wanted to write this because I am currently a Junior In University and I wanted to get some sort of "internship" related experience in the real estate world.

It's a decent neighborhood, residential, with an elementary school and a junior high within walking distance. 

I started in real estate during college with a low money down FHA home, I rented bedrooms out to my friends, and lived rent free Junior and Senior year.  

When a loan is foreclosed on, it "wipes out" junior liens from encumbering the property, with some exceptions like the IRS's redemption period.

Hello BP Community,I would really appreciate some feedback on a program I am planning on designing.The concept is a computer program which scans through Civil Court records to ascertain junior and senior liens and if there are any other liens on the property.