I realize the cash option, just had to make sense of it all because the bank is really the primary lien holder here, not the 6k HOA fees.

In general, what percentage of the full debt are subordinate mortgage holders willing to settle for following a foreclosure sale initiated by the primary mortgage holder?

Along the same line as @Chris Mason is proceeding, if there is equity there is no good business reason for a first lien holder to negotiate here.

Rehab-ers , Flippers, Buy and Holders all are welcome to connect. - I am "hosting" Upper Westchester Network Meetings Monthly - Next one will be  October 16th (wed) at The Bedford Hills Wine and Beer Bar - 27 Depot Plz, Bedford Hills, NY 10507 - Come meet some local BP'ers

BACKGROUNDI'm a former buy & holder moving forward and starting over after a downturn in personal circumstances,  in the planning stage of creating a note investing company for and by myself. 

LOLThe structure you can use is an LLC, which has numerous advantages over having each party listed as a lien holder on the note itself.  

I wonder if CoreLogic has a non-realtor specific version of either of these apps that would be available . . . when it comes to housing data I'd say they are the holders of the keys.Good luck on the hunt!

I am a minority share holder (10%).

Most policy holders have a "no more than 2 roomers/boarders" Clause in their policy.

Lawyers will go after the insurance but there isn't as much incentive to go after the property....unless it is free & clearWhen the recession hit, lots of mortgage holders got bailouts.